WLW Woolworths

RNS Number:8642M
Woolworths Group PLC
30 January 2008

                                   Financing





Woolworths Group plc announces that it has entered into agreements to refinance
its current bank revolving credit and other facilities with new 4 year
facilities totalling �385million.



The facilities comprise a �350million secured asset based lending facility and a
�35million 2nd lien loan.  The asset based lending facility has been arranged
and underwritten jointly by Burdale Financial Limited (a subsidiary of Bank of
Ireland Group) and GMAC Commercial Finance plc.  The 2nd lien loan is provided
by ADM Capital.  The option exists to extend the asset based lending facility
for a fifth year.



The new financing will provide long-term facilities which flex with the Group's
working capital requirements.  This is particularly important as the Group's
Entertainment Wholesale business continues to develop.



As a result of moving from unsecured to secured facilities, the Company has
agreed with the Trustee of The Woolworths Group Pension Fund to grant them a
�63million 3rd lien security.  The Company has agreed that the pension fund
would receive the first �50million of proceeds from any future disposal of the
Group's investment in 2 entertain, at which point an equivalent amount of
security will be released.



Commenting on the new financing Stephen East, Group Finance Director, said: "The
new financing arrangements provide the Group with flexible long-term facilities
which will enable its continued development, and in particular, support the
growth in the Entertainment Wholesale businesses."







For further information:
Stephen East, Group Finance Director                             020 7479 5179
Susanna Voyle, Tulchan Communication                             020 7353 4200
Celia Gordon Shute, Tulchan Communication                        020 7353 4200




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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