Re Liberty Store Fire

Retail Stores PLC
14 November 2000



                              RETAIL STORES PLC:

                 LIBERTY STORE UNAFFECTED BY LAST WEEK'S FIRE


Retail Stores Plc ('Retail Stores'), the AIM listed company formed to acquire
the Liberty department store group in July 2000, wishes to confirm that the
physical structure of the store has not been affected by a small fire which
occurred last Thursday (9th November 2000) in a disused lift shaft adjacent to
the Regent Street trading area.

A part of the store was temporarily evacuated as a precaution. The classic
Tudor Liberty building was unaffected and the rest of the store has now been
re-opened. Any adverse financial consequences arising from this incident are
covered by insurance.

Earlier this week Retail Stores announced the appointment of Fiona Harrison as
the Company's new Chief Executive. Fiona is a highly experienced fashion and
clothing retailer with a strong background in brand marketing and joins the
Company on 4th December 2000. In conjunction with Walt Disney, Liberty
successfully opened its Christmas store windows last week, themed on the
upcoming film 102 Dalmations.


Contact:

Richard Balfour-Lynn, Chairman, Retail Stores Plc.     Tel: [phone]

Baron Phillips, Bankside Consultants.                  Tel: [phone]