AGM Current Trading Statement

Next PLC 16 May 2001 Date: For immediate release, Wednesday 16th May 2001 Contact: David Jones, Chief Executive David Keens, Finance Director Next plc Tel: 020 7796 4133 (16/05/01) Tel: 0116 286 6411 (thereafter) Alistair Mackinnon-Musson Philip Dennis Hudson Sandler Tel: 020 7796 4133 Email: next@hspr.co.uk NEXT PLC AGM Current Trading Statement The Chairman of NEXT, Sir Brian Pitman made the following statement at the Company's Annual General Meeting today: 'In the first fifteen weeks of this financial year Full Price sales in NEXT Retail are 17% ahead of the previous year. The like-for-like Full Price sales in the 267 stores that have been trading continuously for at least one year are 9% ahead. These increases do not include the one day sale that was held on Saturday 29th April this year, which cleared stock remaining from our early Spring ranges. NEXT Directory Full Price sales for the first fifteen weeks are 18% ahead of the previous year. Taken together, Full Price sales for the NEXT Brand are 17% ahead of the previous year. I am also pleased to announce that the Board has approved the appointment of Simon Wolfson to succeed David Jones as Chief Executive of NEXT PLC on 1st August 2001. David Jones will become full time Deputy Chairman on the same day, with the intention of becoming Chairman in due course. Simon, aged 33, joined NEXT in 1991. In the 10 years that he has been with the Company, he has had senior roles in both NEXT Retail and NEXT Directory. He was elected to the Board in 1997 and was appointed Managing Director of the NEXT Brand in August 1999. He has already proved himself as a key driving force through a number of challenging tasks and is a worthy successor to David Jones. NEXT has a great team of talented people and I am confident that the continuing combination of David Jones and Simon Wolfson will sustain the success of the Company.' Sir Brian Pitman, Chairman NEXT PLC Commenting on Simon's appointment, David Jones said: 'The Board identified Simon as my likely successor some time ago. Now that he has gained the experience of managing all aspects of the business, it is the right time for me to hand over, having been Chief Executive for over 12 years. Simon and I have enjoyed a close working relationship for many years, and together we have formulated the strategy of the Group. I look forward to my change of role, maintaining our successful partnership and continuing to deliver value to our customers and shareholders.' -ENDS-

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