Carphone Warehouse demerger from TalkTalk Telecom effective

The demerger between Carphone Warehouse and TalkTalk Telecom is now effective and trading is expected to commence in shares of Carphone Warehouse Group plc.

All of the conditions to the separation of the TalkTalk Business by a demerger to TalkTalk Telecom Group Plc and the creation of two separately listed companies, Carphone Warehouse Group plc and TalkTalk Telecom Group Plc, have been satisfied. The demerger became effective on 26 March 2010.

Trading in Carphone Warehouse Group plc ordinary shares under the ticker ‘CPW’ commenced on the London Stock Exchange at 8.00 am today.

CREST accounts have been credited with Carphone Warehouse Group plc ordinary shares at 8.00 am today. Shareholders will be sent share certificates in respect of their certificated holdings in Carphone Warehouse Group plc on 12 April 2010.

Capitalised terms used in this announcement have the meanings given to them in the scheme document of The Carphone Warehouse Group PLC dated 29 January 2010.