Change of ownership in Italy

Kingfisher is parting with its Castorama stores in Italy. They are to be taken over by the French Groupe Adeo for € 560 mio. It is expected that the transaction, which is still subject to the approval of the European competition authorities, will be concluded in the fourth quarter of 2008. Kingfisher intends to reduce its debt burden by the sale of the 31 Castorama stores in Italy. At the end of 2007 Groupe Adeo had 15 Leroy Merlin stores in Italy, as well as 51 Bricocenter and Bricocitta outlets.