Released: 18/10/2004

ADSs planned to begin trading under ticker symbol "SIG," effective November 16th, 2004
ADS ratio changes to 10 ordinary shares per 1 ADS today


October 18th, 2004 -- Signet Group plc ("Signet"), a UK registered company, is the world's largest specialty retail jeweler and parent company of "Kay Jewelers" and "Jared The Galleria Of Jewelry" in the US. It is Signet's intention to list its American Depositary Shares ("ADSs") on the New York Stock Exchange (the "NYSE"). Subject to approval from the NYSE and its registration statement becoming effective with the United States Securities and Exchange Commission it is planned that from November 16th, 2004, Signet's ADSs will be listed exclusively on the NYSE under the ticker symbol "SIG." No new shares will be issued in conjunction with this listing. Signet ADSs currently are listed on the NASDAQ Stock Market under the ticker symbol "SIGY." Signet ordinary shares trade on the London Stock Exchange under the ticker symbol "SIG."

Prior to listing its ADSs on the NYSE, Signet is today changing its ADS ratio to 10 ordinary shares per 1 ADS from 30 ordinary shares per 1 ADS.

Deutsche Bank has recently been appointed as the depositary bank for Signet's ADSs and will continue in this role after the change.

Terry Burman, Group Chief Executive, commented: "Signet is committed to raising its profile among US investors. Listing on the NYSE will provide an excellent platform to highlight to the US financial community our consistent record of growth, excellence in operational execution and culture of continuous improvement, these being the drivers behind our financial performance. Signet has a market capitalization of $3.4 billion. The US division, which accounts for some 70% of sales and operates under strong brand names such as "Kay Jewelers" and "Jared The Galleria Of Jewelry", offers significant further growth opportunities. We believe that Signet's profile will be of interest to an
increasing number of potential US investors."

"The NYSE is proud to welcome Signet to our family of listed companies," said NYSE CEO John Thain. "Signet is a recognized market leader with an impressive portfolio of retail brands in America and abroad. Signet will be a strong addition to our roster of top retail sector players. We look forward to an outstanding partnership with Signet and its shareholders."

Enquiries:

Terry Burman, Group Chief Executive:	+44 (0) 20 7399 9520
Walker Boyd, Group Finance Director:	+44 (0) 20 7399 9520
Brian Rafferty, Taylor Rafferty (US):	+(1) 212 889 4350
Pamela Small, Brunswick (UK)	+44 (0) 20 7404 5959

Signet operated 1,725 speciality retail jewelry stores at July 31st, 2004; these
included 1,126 stores in the US, where the Group trades as "Kay Jewelers",
"Jared The Galleria Of Jewelry" and under a number of regional names. At that
date Signet operated 599 stores in the UK, where the Group trades as "H.Samuel",
"Ernest Jones" and "Leslie Davis". Further information on Signet is available at
www.signetgroupplc.com.

This release includes statements which are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements, based upon management's beliefs as well as on assumptions made by
and data currently available to management, appear in a number of places
throughout this release and include statements regarding, among other things,
our results of operation, financial condition, liquidity, prospects, growth,
strategies and the industry in which the Group operates. Our use of the words
"expects," "intends," "anticipates," "estimates," "may," "forecast,"
"objective," "plan" or "target," and other similar expressions are intended to
identify forward-looking statements. These forward-looking statements are not
guarantees of future performance and are subject to a number of risks and
uncertainties, including but not limited to general economic conditions, the
merchandising, pricing and inventory policies followed by the Group, the
reputation of the Group, the level of competition in the jewelry sector, the
price and availability of diamonds, gold and other precious metals, seasonality
of the Group's business and financial market risk.

For a discussion of these and other risks and uncertainties which could cause
actual results to differ materially, see the "Risk and Other Factors" section of
the Company's 2003/04 Annual Report on Form 20-F filed with the U.S. Securities
and Exchange Commission on April 22nd, 2004 and other filings made by the
Company with the Commission. Actual results may differ materially from those
anticipated in such forward-looking statements even if experience or future
changes make it clear that any projected results expressed or implied therein
may not be realised. The Company undertakes no obligation to update or revise
any forward-looking statements to reflect subsequent events or circumstances.