RNS Number:2557H
Coles Myer Ld
10 February 2003

Coles Myer Ltd.

ABN 11 004 089 936

800 Toorak Road, Tooronga, 3146

Telephone (03) 9829 3111

Facsimile (03) 9829 6787

Postal Address: PO Box 2000, Glen Iris, 3146

News Release

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                                                        Monday, 10 February 2003



                           ALAN WILLIAMS' RETIREMENT



Coles Myer CEO John Fletcher said today that a global search was being put in
place to find a replacement for Alan Williams, Chief Operating Officer of the
Food and Liquor Group, to enable him to retire later this year.

Mr Fletcher said that Mr Williams, 55, had indicated to him in late 2001 an
intention to retire in late 2002, but had agreed to his request to stay on until
late 2003 to ensure a smooth leadership transition.

Mr Fletcher said that Mr Williams had led the food and liquor business through a
period of tremendous expansion and sustained success, including a decade of
compound double-digit earnings growth.

"The Food and Liquor Group is on track to achieve double digit earnings growth
in the first half of FY03 in line with strategy despite sales growth being
impacted by our competitor's use of petrol discounting," he said.

Mr Fletcher reaffirmed the Group earnings guidance provided at the Annual
General Meeting.



More information:

Media:         Scott Whiffin           03 9829 5548

Analysts:      Amanda Fischer          03 9829 4521


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