Sale of ASPAC Retail

Smith WH PLC
23 April 2004

23 April 2004

                                 WH Smith PLC

                              Sale of ASPAC Retail

WH Smith PLC today announces that it has reached an agreement with Pacific
Equity Partners, a private equity group based in Sydney, to sell the ASPAC
Retail business consisting of its retail businesses in Australia (Angus &
Robertson), New Zealand (Whitcoulls) and Hong Kong but excluding the Singapore
Airport operations, for A$115m (£47m) in cash.

The agreement is subject to the satisfaction of certain conditions precedent
including financing, regulatory approvals and certain landlord consents. If the
conditions are satisfied, the price will represent a significant gain on the
carrying value of the assets and will result in an exceptional gain in the
second half of the current financial year.

In the year to 31 August 2003 the ASPAC Retail business (excluding the Singapore
Airport operations) generated £5m of operating profit and at 31 August 2003 had
net assets of £28m.

Enquiries:

WH Smith PLC                                                     020 7409 3222
Mark Boyle                 Investor Relations                    020 7514 9630
Louise Evans               Media Relations                       020 7514 9624

Brunswick                                                        020 7404 5959
Tim Grey


                      This information is provided by RNS
            The company news service from the London Stock Exchange