Granting of Options

Torex Retail PLC
20 November 2006




                      Torex Retail Plc ('the Company')

                                Grant of Options


On 20 November 2006 the Board of the Company granted five million options over
Ordinary Shares of 1p each ('Ordinary Shares') at an option price of 48.5p per
Ordinary Share (being the closing price for Ordinary Shares as at 17 November
2006) to new Group Chief Executive, Neil Mitchell.


The objective condition by way of a performance target specified by the
Committee pursuant to the rules in respect of any particular Option shall as a
minimum require growth in the Earnings Per Share of the Company over any
continuous 3 year period after the Date of Grant which equals or exceeds the
increase in the Retail Prices Index - All Items over the same period plus 3% per
annum compound.   In its discretion, the Committee may from time to time adopt a
target linked to a different measure of performance than earnings provided the
Committee reasonably considers that such alternative target is at least
equivalent to the Earnings Per Share target outlined above.


Mr Mitchell held no options in the Company prior to this announcement. No
consideration was paid for the grant of these new options, and the period during
which they are exercisable is three to ten years.


Ends


Enquiries:

Citigate Dewe Rogerson:
Ginny Pulbrook: Tel: [phone]




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