Return of Value

Brown (N.) Group PLC
02 March 2007


                                Return of Value

      Results of Purchase Offer and declaration of Single B Share Dividend

In accordance with the circular to Shareholders dated 25 January 2007 (the
'Circular'), Shareholders could elect to sell B Shares at 27 pence each, free of
all dealing expenses and commissions, pursuant to the Purchase Offer which was
made on 1 March 2007 by Credit Suisse Securities (Europe) Limited. Valid
elections to accept the Purchase Offer were received in respect of 208,605,257 B
Shares, representing approximately 70.50 per cent. of the B Shares in issue.

The Board of Directors of the Company is also pleased to announce that it has
today declared the Single B Share Dividend of 27 pence per B Share payable to
those holders of B Shares who were on the B Share register of members at 7.30
a.m. today. Credit Suisse Securities (Europe) Limited will receive the Single B
Share Dividend of 27 pence in respect of each B Share it has purchased under the
Purchase Offer.

In accordance with the Articles of Association, following the declaration of the
Single B Share Dividend, all B Shares have been converted into Deferred Shares.
The Deferred Shares will not be listed, will carry extremely limited rights and
will have negligible value. The Company will have the right to repurchase all
Deferred Shares at any time for an aggregate consideration of one penny and
intends to exercise this right on 13 March 2007.

Cheques and sale advices are expected to be despatched and assured payments made
through CREST on 12 March 2007 in respect of B Shares purchased under the
Purchase Offer and in respect of the Single B Share Dividend.

All definitions used in the Circular apply to this announcement.

Credit Suisse Securities (Europe) Limited, which is regulated in the United
Kingdom by the Financial Services Authority, is acting as financial adviser and
corporate broker to N Brown Group plc and is acting for no-one else in
connection with the Return of Value or any other matter referred to in this
announcement, and will not be responsible to anyone other than N Brown Group plc
for providing the protections afforded to customers of Credit Suisse Securities
(Europe) Limited nor for providing advice to any other person in relation to the
Return of Value.

Enquiries:

N Brown Group plc:                            0161 238 2202
Alan White, CEO
Dean Moore, CFO

Credit Suisse:                                020 7888 8888
John Hannaford

Gavin Anderson:                               020 7554 1400
Fergus Wylie




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