Property sale confirmed

Kingfisher PLC
13 August 2001

FOR IMMEDIATE RELEASE

Monday 13 August 2001


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF
AMERICA, CANADA, AUSTRALIA OR JAPAN


  KINGFISHER CONFIRMS THE SALE OF 182 HIGH STREET RETAIL PROPERTIES FOR £614
                                    MILLION


Kingfisher plc today announces the sale of 182 high street investment
properties, through Chartwell Land its specialist retail property subsidiary.
These properties have been sold for £614 million to a partnership between
London & Regional Properties and Goldman Sachs' Whitehall Fund.


The sale price represents a £19 million premium to the book value which was £
595 million, as at 3rd February 2001.  In total the increase in value of these
properties during Kingfisher's ownership has been £223 million.  152 of the
properties are high street stores let to Woolworths plc, a wholly owned
subsidiary of Woolworths Group plc, with the balance of stores occupied by
Superdrug Stores plc and other third party tenants.



The sale of these properties marks a further step towards completing the
separation of the General Merchandise Division of Kingfisher.  This has
included the demerger of Woolworths Group, details of which were announced on
1st August 2001, and the sale of Superdrug, which was completed on 20th July
2001.


£600 million of the consideration is payable in cash on completion.  The
balance of £14 million is payable in cash within 5 years of completion, secured
through a charge on the total assets of the portfolio.  The cash received will
be used to repay Kingfisher borrowings.  The sale of the bulk of the portfolio
will complete by 31st August, 2001, with the balance completing later when the
relevant landlords' consents have been obtained.



Completion is conditional on Woolworths Group having been admitted to trading
on the London Stock Exchange with an investment grade credit rating.  Admission
is expected to be 28th August 2001, subject to Kingfisher shareholder's
approval on 24th August 2001.


Kingfisher and Chartwell Land were advised by Credit Suisse First Boston and CB
Hillier Parker on this transaction.


                                    -ends-


Notes to Editors



*     Following the demerger of Woolworths Group, Kingfisher will be one of
      Europe's leading home retailers operating principally through its two
      international businesses in Home Improvement and Electrical & Furniture.
      Around 55% of the Group's turnover will arise outside the UK.  Kingfisher
      will employ around 90,000 people in over 1,300 stores across 16 countries
      and will include some of the best known retail brands in Europe including
      B&Q, Castorama, Comet, Darty and BUT.



*     Chartwell Land is wholly owned by Kingfisher and will continue to be a
      major specialist investor and developer in the Retail Warehouse sector,
      actively managing a substantial Retail Warehouse investment portfolio and
      supporting the growth of the Kingfisher retail companies (B&Q and Comet
      principally) in the UK through its continuing development activities.

      Chartwell Land is the UK's 4th largest owner of Retail Warehouse property
      with a portfolio value in excess of £900 million (over 4m sq ft.)



For further information:


Enquiries                          Telephone No

Kingfisher plc
Ian Harding                         [phone]


Financial Dynamics
Tom Wyatt                           [phone]

Chartwell Land                      
Mark Creedy                         [phone]


Kingfisher Website                                             
www.kingfisher.com