1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Signet Group plc

2. Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the notification obligation:

BT Pension Scheme Trustees Limited as trustee of the BT Pension Scheme. See Section 9 for further information

4. Full name of shareholder(s) (if different from 3.)

N/A

5. Date of the transaction and date on which the threshold is crossed or reached:

7/1/08

6. Date on which issuer notified:

8/1/08

7. Threshold(s) that is/are crossed or reached:

5%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares

if possible using the ISIN CODE

Situation previous to the Triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights ^viii

Number of shares

Number of voting rights ^ix

% of voting rights

Direct ^x

Indirect ^xi

Direct

Indirect

B1HTFP6

GB00B1HTFP68

ORD US$0.009

84,417,185

84,417,185

0

0

85,667,185

0.00%

5.023%

B: Financial Instruments

Resulting situation after the triggering transaction ^xii

Type of financial instrument

Expiration date ^xiii

Exercise/ Conversion Period/ Date ^xiv

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

Total (A+B)

Number of voting rights

% of voting rights

85,667,185

5.023%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable ^xv:

BT Pension Scheme Trustees Limited is the parent undertaking of Britel Fund Trustees Limited, which is the parent undertaking of Hermes Pensions Management Limited. Hermes Pensions Management Limited is the parent undertaking of:

1. Hermes Investment Management Limited (voting rights held in this issuer:0.00%)

2. Hermes Focus Asset Management Limited (voting rights held in this issuer: 4.526%)

3. Hermes Equity Ownership Services Limited (voting rights held in this issuer: 0.497%)

4. Hermes Assured Limited (included with number 1)

Please see Section 13 for further information

Proxy Voting:

10. Name of the proxy holder:

See Comment in Section 13.

11. Number of voting rights proxy holder will cease to hold:

See Comment in Section 13.

12. Date on which proxy holder will cease to hold voting rights:

See Comment in Section 13.

13. Additional information:

Hermes Equity Ownership Services Limited hold the voting rights under a standing proxy contained in services agreements for the provision of corporate governance services to various underying clients.

Hermes Investment Management Limited hold the voting rights under a standing proxy contained in investment management agreements with various underying clients, which includes all the shares owned directly by BT Pension Scheme.

Hermes Focus Asset Management Limited hold the voting rights as General Partner under a standing proxy contained in limited partnership agreements with various limited partnerships.

All voting rights held on behalf of the above entities are aggregated for the purposes of DTR 5.2.1(a). The aggregation is made at the lower threshold of 3% and above because Hermes Equity Ownership Services Limited does not manage investments for the purposes of the investment manager exemption contained in DTR 5.1.5.

This disclosure is made by BT Pension Scheme Trustees Limited, which is the ultimate parent undertaking for the purposes of DTR 5.2.1(e).

14. Contact name:

Margaret Moss / Valerie Davidson

15. Contact telephone number:

020 7680 2125 / 020 7680 2177