Abstract: An arrangement is provided for retaining loose sheets of paper. A pair of sheet retaining components, each having a plurality of half loops, are hingedly held together by wire clips. An actuator is interposed between the sheet retaining components. The actuator is provided with inclined slots which, when the actuator is displaced, engage and move the clips causing one sheet retaining component to move with respect to the other to unlock the engaged ends of the respective half loops. Once unlocked, the sheet retaining components can be hinged apart to permit removal and/or addition of loose leaf paper.