DIY Expansion into Turkey

Kingfisher PLC 29 February 2000 KINGFISHER PLC ANNOUNCES DIY EXPANSION INTO TURKEY Kingfisher plc, the leading European retail group, has agreed to purchase a 50% stake in Koctas Yapi Marketleri Ticaret A.S. the new operator of Koctas, the leading Turkish DIY retail chain with five superstores. The new company will start with net assets of $7.2 million. The investment is made through Kingfisher's DIY subsidiary Castorama Dubois Investissements SCA (CDI) and will be managed as a joint venture through its B&Q International division. The remaining 50% stake is held by the Koc Group, Turkey's largest conglomerate. The DIY market size in Turkey is estimated to be worth $4-5 billion and is expected to double over the next 10 years. The new business aims to open more than 30 new stores within the next 5 years. Both CDI and the Koc Group intend to make additional investments in Koctas to fund the store expansion programme. Sir Geoffrey Mulcahy, Chief Executive of Kingfisher plc, said: 'The DIY market in Turkey is hugely fragmented. The combination of Castorama's pan European position with Koc's local expertise creates a new force to meet the demands of a large and fast growing market.' For further information Kingfisher plc + 44 (0) 20 7724 7749 Media Enquiries Gwen Gober, Director of Corporate Affairs + 44 (0) 20 7725 5714 Broker and Institutional Enquiries Keith Williams, Director of Investor Relations + 44 (0) 20 7725 5776 Kingfisher website www.kingfisher.co.uk France Graham Fairbank, Head of Communications + 33 (1) 43 18 52 26 Financial Dynamics + 44 (0) 20 7831 3113 Andrew Dowler Charlie Armitstead Koctas + 90 (0) 216 454 1600 Arzu Esginyrt, Marketing Manager Koctas website www.koctas.com.tr Koc website www.koc.com.tr Notes to Editors Kingfisher plc currently employs 117,000 people in 15 countries with over 2700 stores. It is Europe's largest DIY retailer and third largest electrical retailer The Koc Group has a history of long and successful partnerships across many business sectors with major international corporations such as Fiat, Ford, Henkel, Mannesmann, Yamaha and BOC Partnership with The Koc Group provides a developed corporate infrastructure in Turkey particularly in site development, financial services, supply chain and human resources The Koctas retail Group currently has five DIY stores in Turkey Turkey is a large and rapidly growing economy. With a population of 65 million people, it has economic growth rates of 4-5% year on year.

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