Signet Jewelers - Prospectus: Part VII: Directors and Corporate Governance: Directors' Interests

3. DIRECTORS' INTERESTS

As at 4 September 2008 (the latest practicable date prior to the publication of this document), the interests, all of which are beneficial, of each Director in the voting rights of Signet which had been notified to Signet pursuant to Disclosure and Transparency Rule 5.1.2 together with what their interests are expected to be in the Company immediately following the Admissions are set out in the following table:

	Interests in Signet as at 4 September 2008		Expected interests in the Company immediately following the Admissions
Director	No. of shares	Percentage of issued share capital	No. of shares	Percentage of enlarged issued share capital
Sir Malcolm Williamson	187,375	0.01%	9,368	0.01%
Terry Burman	808,601	0.04%	40,430	0.04%
Walker Boyd	542,798	0.03%	27,139	0.03%
Mark Light	76,454	0.004%	3,822	0.004%
Robert Blanchard	10,010	0.0006%	500	0.0006%
Dale W. Hilpert	20,000	0.001%	1,000	0.001%
Russell Walls	30,000	0.002%	1,500	0.002%

Details of options over shares in Signet held by the Directors are set out below. They are not included in the interests of the Directors shown on the table above.

The Directors had the following options and awards relating to Signet Shares under the 1993 Scheme, the 2003 Scheme, the LTIP and the Sharesave Scheme as at 4 September 2008 (being the latest practicable date prior to publication of this document). The holders of all options have been offered the opportunity to replace their existing options with options over Common Shares of equivalent value:

Optionholder	Share Plan/ Scheme	Date of grant	No. of Signet Shares under option	Exercise price per Signet Share	First exercise date ⁽¹⁾	Expiry date⁽¹⁾
Walker Boyd	⁽²⁾	5.5.00	611,842	57.00p	5.5.03	5.5.10
	⁽²⁾	2.5.01	179,401	75.25p	2.5.04	2.5.11
	⁽²⁾	11.4.02	225,000	120.00p	11.4.05	11.4.12
	⁽³⁾	14.7.03	397,435	97.50p	14.7.06	14.7.13
	⁽³⁾	5.4.04	444,943	111.25p	5.4.07	5.4.14
	⁽³⁾	12.4.05	466,252	112.60p	12.4.08	12.4.15
	⁽³⁾	11.4.06	412,794	111.92p	11.4.09	11.4.16
	⁽³⁾	24.4.07	409,901	124.42p	24.4.10	24.4.17
	⁽⁵⁾	1.1.08	12,765	75.20p	1.1.11	30.6.11
	⁽³⁾	14.4.08	808,153	65.0p	14.4.11	14.4.18

Total			3,968,486	92.93p⁽⁶⁾
Terry Burman	⁽³⁾	14.7.03	3,807,426	$1.59	14.7.06	14.7.13
	⁽³⁾	5.4.04	3,129,267	$2.05	5.4.07	5.4.14
	⁽³⁾	12.4.05	3,193,395	$2.12	12.4.08	12.4.15
	⁽⁵⁾	11.4.06	2,936,060	$1.96	11.4.09	11.4.16
	⁽³⁾	1.11.06	5,170	$1.86	1.11.08	31.1.09
	⁽³⁾	24.4.07	2,530,119	$2.49	24.4.10	24.4.17
	⁽³⁾	14.4.08	5,233,064	$1.24	14.4.11	14.4.18

Total			20,834,501	$1.81 ⁽⁶⁾
Mark Light	⁽²⁾	11.4.02	290,191	$1.72	11.4.05	11.4.12
	⁽³⁾	5.4.04	329,267	$2.05	5.4.07	5.4.14
	⁽³⁾	12.4.05	339,032	$2.12	12.4.08	12.4.15
	⁽⁵⁾	11.4.06	572,889	$1.96	11.4.09	11.4.16
	⁽³⁾	1.11.06	5,170	$1.86	1.11.08	31.1.09
	⁽³⁾	24.4.07	514,055	$2.49	24.4.10	24.4.17
	⁽³⁾	14.4.08	1,032,257	$1.24	14.4.11	14.4.18
Total			3,082,861	$1.81 ⁽⁶⁾

(1) The dates from which options are exercisable and the expiry dates are the dates that normally apply.
Other dates apply in certain circumstances, such as an option holder ceasing to be employed. Options that have not already vested will only vest and become exercisable on the dates detailed subject to satisfaction of the specified performance criteria.
(2), (3), (4) and (5) The options marked (2) were granted under the Signet 1993 Executive Share Option Scheme, those marked (3) were granted under the Signet International Share Option Plan 2003, the Signet UK Inland Revenue Approved Share Option Plan 2003 and the Signet US Share Option Plan 2003, those marked (4) were awarded under the Signet Long Term Incentive Plan 2000 and those marked (5) were granted under the terms of the Signet Inland Revenue Approved Saving Related Share Option Scheme for UK Employees 1998 or, in the case of Terry Burman and Mark Light, the US Section 423 Plan.
(6) Weighted averages of the exercise prices per share for the options held at year end.

Save as disclosed in this Section, no Director has any interests (beneficial or non-beneficial) in the share capital of the Company, Signet or any of their respective subsidiaries.

No Director has or has had any interest in any transaction which is or was unusual in its nature or conditions, or which or was significant to the business of the Company and which was effected by the Company during the current or immediately preceding financial year or during any further financial year and which remains in any respect outstanding or unperformed.

There are no outstanding loans granted by the Company or any member of the Group to any of the Directors nor has any guarantee been provided by the Company or any of its subsidiaries for their benefit.