ASX & Media ReleaseMyer announces restructured executive teamFriday 9 September 2011

Myer Holdings Limited (MYR) today announced a restructured executive team.

Penny Winn, Executive General Manager Merchandise, has given notice of her resignation and will leave Myer on 8 December 2011.

Myer Chief Executive Officer, Bernie Brookes, said that the focus on succession planning and building our management team credentials through the realignment of accountabilities over the past year has ensured our Merchandise Group General Managers are well positioned to take on additional responsibility.

Judy Coomber, Group General Manager Fashion and Accessories, will also now assume responsibility for the Cosmetics business, Global Sourcing offices, Quality Assurance and Quality Control and Concessions.

Adam Stapleton, Group General Manager Mens, Home and Entertainment will also now assume responsibility for the domestic Supply Chain, Merchandise Planning, and Store & Business Support.

Adam and Judy, Megan Foster - Group General Manager Marketing and Brand, Tim Clark - Group

General Manager Property and IT, and Marion Rodwell - General Counsel and Company

Secretary, will now join Mark Ashby, Nick Abboud and Greg Travers on the Executive Management

Group.

“We have also been focussed for some time on making sure we have the right skills in place to address key areas of opportunity like further developing our multi-channel offer and strengthening our MYER one loyalty program,” Mr Brookes said.

Rob Gregory, General Manager e-commerce, will report directly to Bernie Brookes in response to the increasing demand by customers for an integrated offer across our stores, the internet and mobile devices. Rob has already made significant progress in this role over the past 12 months. As a result of the move, Bernie will have direct oversight of the implementation of Myer’s multi- channel strategy.

Sarah Richardson joined Myer in July as General Manager Loyalty, Research & Social Media with the key accountability of developing and implementing our future strategy for the MYER one program. Sarah brings to Myer extensive experience in loyalty programs and customer insights across a broad range of sectors. Sarah reports to Megan Foster, Group General Manager Marketing and Brand.

Myer Holdings Ltd. ABN 14 119 085 602

“The changes announced today will add value and focus to each area as we adapt to customer needs and manage future challenges. I have great confidence in the considerable talent and experience of the management team,” Mr Brookes said.

Myer’s FY2011 results are scheduled to be released on 15 September 2011.

For further information please contact:

Investors:

Davina Gunn, Myer Investor Relations Manager, +61 (0) 400 896 809

Media:

Jo Lynch, General Manager Corporate Affairs, +61 (0) 438 101 793

This release includes “forward-looking statements”. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, “objectives”, “outlook”, “guidance” or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Myer, and its officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward-looking statements and Myer assumes no obligation to update such information.

Myer Holdings Ltd. ABN 14 119 085 602