Disposal

Kingfisher PLC
17 January 2003


17 January 2003

                      KINGFISHER SELLS GERMAN ELECTRICALS BUSINESS

Kingfisher plc today announced that it has reached an agreement to sell its
German electricals business Kingfisher Beteiligungs GmbH ('ProMarkt Group') to
its former owners Michael and Matthias Wegert for €1.

In addition, Kingfisher is supporting the immediate working capital requirements
of the business with a cash contribution of €55 million (£35 million).  It is
also making available a repayable working capital loan facility (on normal
commercial terms) for up to €32.5 million (£20 million) to cover peak seasonal
requirements, namely the periods August 2003 to January 2004 and August 2004 to
January 2005.  Completion is expected by the end of February.

The sale includes 92 ProMarkt electrical stores in Germany and Austria together
with a chain of 93 photographic stores (Foto-Radio Wegert), a photographic
processing laboratory and the ProMarkt online business.

ProMarkt employs over 3,500 people and reported a retail loss of just under £28
million in the year to 2 February 2002 on a turnover of £625 million. 
ProMarkt's losses in the current financial year are expected to increase to
around £35 million.

There will be a non-operating exceptional loss on disposal of around £190
million based on ProMarkt's net book value.

Kingfisher's Chairman Francis Mackay said: 'This sale secures the immediate
future of ProMarkt and its employees and minimises the cash cost to Kingfisher
of withdrawing from this loss making business. It also represents another key
step towards the separation of our electricals business and I remain confident
that we will complete the separation within our previously announced timetable.'

                                   -ends-


Notes to Editors

Kingfisher purchased the German electricals Group in several staged transactions
between 1998 and 2000 for a total cumulative cost of just under £111 million

Kingfisher is Europe's leading home improvement retailer and is ranked number
three in the world. The Company operates more than 600 home improvement stores
in 12 countries and enjoys market-leading positions in the UK, France, Poland
and Taiwan. Sales for the Home Improvement sector for the year to 2 February
2002 were more than £5.8 billion, with retail profit in excess of £430 million. 
Kingfisher also has a strategic alliance with Hornbach, Germany's leading big
box home improvement retailer, which operates 99 stores across Europe.



Kingfisher's Electrical & Furniture business operates more than 830 stores in
nine countries.  It is Europe's third largest electricals retailing business by
sales and number two by retail profit. As well as holding the leading position
in France with Darty and BUT and the number two position in the UK with Comet,
Kingfisher also enjoys leading positions in Belgium and in the Czech and Slovak
Republics.  Sales for the year to 2 February 2002 were more than £3.7 billion,
with retail profit of £184 million.

Enquiries

Kingfisher plc
Ian Harding, Director of Financial Communications           [phone]
Frederique Lepelletier, Head of IR, Continental Europe      [phone]
Jonathan Miller, Head of Corporate Comms, UK                [phone]
Graham Fairbank, Head of Corporate Comms, France           [phone]

The Maitland Consultancy
Duncan Campbell-Smith,                                      [phone]

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




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