1. DAVID JONES LIMITED Interim Results Presentation 13 March 2000

2. Peter Wilkinson Chief Executive

3. 3 Performance Overview Improvement Sales $780.3m+ 9.6% EBIT $ 50.3m+23.3% PAT (before Abnormals) $ 28.9m+12.9% EPS (before Abnormals) 7.4c+13.9% Stock Turn 2.73 times + 6.6%

4. 4 Highlights Continued to grow market share Strengthened position in WA and Victoria Fundamental change in business continuing strongly- benefits still flowing through Well positioned to handle any demand swings Progress on growth strategy New CFO

5. 5 Key Drivers Buying department Exclusive brands Systems improvement Cost control Supplier relationships Customer Service Improved marketing

6. Brian Hill Chief Financial Officer

7. 7 ‘All the Key Financials showed strong growth on the corresponding half’

8. 8 ‘ Double digit growth in Profit after Tax was offset by an Abnormal Item of $4.1m’

9. 9 ‘ Earnings before Interest up 23.3% due to strong growth in Retail Operations and Credit’

10. 10 ‘Higher Sales and well controlled costs contribute to an increase in Retail Contribution of 24.6%’

11. 11 ‘ Comparable store sales grew by more than all DSS - gaining market share’

12. 12 ‘ All major product categories performed strongly’ Introduction of new brands Rebuilt buying capacity Supplier partnering +13% +9% +7%

13. 13 ‘ Operational efficiencies and fee income drive 82% improvement in Credit Card profits despite higher interest free’ David Jones Credit Card Change on Corresponding Half New approved Credit Cards +78% - Without Shareholder Discount +22% Operating Expenses + 4% Fee Income New Total Card Receivables +16% Interest Free and Deferred Receivables +42%

14. 14 ‘Shareholder Discount has been a great success’ Highlights: Shareholder Discount Accounts 21,706 -New Accounts11,449 -Existing Shareholders 10,257 Total Number of Shareholders +41% -Shareholders > 2000 shares + 88% -Shareholders < 2000 shares - 5%

15. 15 ‘Abnormals Reduced Profit After Tax by $4.1m’

16. 16 ‘Negative Cash Flow primarily due to Capital Return’

17. 17 ‘ Balance Sheet has strengthened with Debt to Equity decreasing from 52.3% to 36.5%’

18. 18 ‘ Adelaide Central Plaza sale improves Debt to Equity to 20.6% on a pro-forma basis’

19. Peter Wilkinson Chief Executive

20. 20 Growth Victoria and Western Australia –Underlying growth (Value Proposition) Food Business –Customer research positive –Strong team –Progress on leases E-Commerce –Significantly progressed, hampers success –Pure plays v. “clicks and mortar” –multi-channel Full strategy briefing “field day” in June

21. 21 Outlook Environment in 2H will be impacted by GST –Positioned to handle any swings in demand Continue to trade in line with expectations Maximising Shareholder Value over-riding corporate objective