Demand for Tesco Visa Card and Internet Loans

Tesco PLC
26 January 2000



                                      
                                                                                
                  
                                      
           JANUARY STAMPEDE FOR TESCO VISA CARD AND INTERNET LOANS


Tesco Personal Finance, the joint venture company owned by Tesco plc and the
Royal Bank of Scotland, reports a sharp increase in applications for loans
over the Internet.  During the first three weeks of January, Tesco approved
more than 1,500 internet loan applications and this source represented
approximately 20% of all approved loans.

There has also been a new year surge of applications for its Visa Card.
During the first three weeks of the New Year (4th-24th January), 190,000
applications were received for the Tesco Visa card.  Tesco Personal Finance
expects high volumes of credit card applications to continue as customers
respond to their market leading 4.9% APR introductory rate for purchases and
balance transfers.

Iain Clink, Chief Executive of Tesco Personal Finance, said 'Our position of
being a major player in the UK financial services market has been confirmed
by these excellent early January figures.  Tesco shoppers recognise that our
financial products offer great value for money and there is a high level of
interest in the range of services we provide.  Loan applications over the
Internet are accelerating strongly and this shows the benefit of our strategy
of aligning ourselves with the Tesco.co.uk website'.




Contacts:

Iain Clink          Tesco Personal Finance             0131 523 6222
Mark Austin         Tesco Personal Finance             0131 523 9001