RNS Number:4699R
Schroder Investment Management Ltd
30 October 2003



                                                                    FORM 8.1/8.3


Date of Disclosure: 30/10/03



      DISCLOSURE UNDER RULES 8.1 (a), 8.1 (b)(i), AND 8.3 OF THE CITY CODE

                            ON TAKEOVERS AND MERGERS




Date of Dealing:     29/10/03

Dealing in:     DEBENHAMS Plc

(1)     Class of securities (e.g. ordinary shares):          ORDINARY 10p SHARES

                               (2) Amount bought

                                  Amount sold

                                    814,000

                               Price per unit (p)

                                     466.25

(3)     Resultant total of the same class owned or controlled:     21,724,859

     Percentage of class:      5.934%

(4)     Party making disclosure:     SCHRODER INVESTMENT MANAGEMENT LIMITED

(5)     EITHER     (a)     Name of purchaser/vendor (Note 1) :

     OR     (b)     If dealing for discretionary client(s), name of fund
management organisation:

               SCHRODER INVESTMENT MANAGEMENT LIMITED

 6. Reason for disclosure (Note 2)


    (a) associate of     (i) offeror (Note 3)               NO
                   (ii) offeree company          YES

    Specify which category or categories of associate (1-8 overleaf):     6

        If category (8), explain:

        (b) Rule 8.3 (i.e. disclosure because of ownership or control of 1% or
        more of the class of relevant securities dealt in).
        YES





Signed on behalf of the party named in (4) above: ..............................


(Also print name of signatory): Duncan Murray

Telephone and extension number: 020 7658 2962



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