Disposal

Kingfisher PLC
28 January 2002


KINGFISHER PLC SELLS TIME RETAIL FINANCE

Kingfisher plc announces today (28th January 2002) that it is selling its
financial services operation, Time Retail Finance Limited, to GE Capital Bank
Limited  for a consideration of £149 million (based on the balance sheet of 31st
January 2001) payable in cash on completion, together with the repayment of
inter-company debt.  Completion is expected to take place on 31st January 2002
and is subject to the wind-down of existing securitisation.  The sale proceeds
will be used to reduce Kingfisher's borrowings.

B&Q and Comet have entered into agreements with GE Capital for the provision of
financial services to their retail operations.  This will enable B&Q and Comet
to provide a wider range of leading edge financial products and services to 
their customers.  In addition, the partnership with GE Capital represents an 
opportunity for B&Q and Comet to benefit from increased volumes of credit sales. 

Commenting on the disposal, Kingfisher Chief Executive Sir Geoff Mulcahy, said:
'The sale of Time Retail Finance will allow Kingfisher to reduce its borrowings 
while crystallizing value for our shareholders.  This is another step taken 
during a year of delivery that has left us with a strengthened balance sheet
and focussed on our core retailing strengths.'                                                      

                                   -ends-


       Notes to editors


•      Time Retail Finance was established in 1988 to provide credit within the
       Kingfisher group of retail companies.  Since then, it has developed 
       external partnerships with other retailers, complementing Kingfisher's
       own retail brands.  Timecard (the consumer product brand) currently has 
       over 1.1 million active card holders.

•      Time Retail Finance is based in Leeds and employs 90 people (as at 31
       December 2001).

•      For the 12 months ended 31 January 2001, Time Retail Finance had a
       turnover of £77.4 million and profit before tax of £4.9 million.

•      Kingfisher is one of Europe's leading retailers, operating in the
       international Home Improvement, Electrical and Furniture markets.  More
       than half of the Group's turnover arises outside the UK, making it the
       UK's most international retailer.  Kingfisher employs more than 90,000 
       people in over 1,300 stores across 16 countries and includes some of the
       best known retail brands in Europe, including B&Q, Castorama, Comet,
       Darty, and BUT.






For further information:


Kingfisher plc
Broker and Institutional Enquiries
Ian Harding, Director of Investor Relations                [phone]

Media Enquiries
Jonathan Miller, Head of External Relations                [phone]


France
Graham Fairbank, Head of Corporate Comms (France)         [phone]

Kingfisher Website                                          www.kingfisher.com
Kingfisher plc                                             [phone]







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