Issue of Debt

Tesco PLC
30 October 2007

                                                                 30 October 2007

                                   Bond Issue

On the 29 October 2007, Tesco plc priced a US Dollar denominated issue of notes
('the Notes'), raising net proceeds of approximately $2,000 million, issued via
144A/Reg S. The Notes will be issued by Tesco plc. The Offering Memorandum for
the Notes will be submitted to the UK Listing Authority.

The 10-year Notes consist of $850million aggregate principal amount paying
5.500% interest and maturing on 15 November 2017. The 30-year Notes consist of
$1,150million aggregate principal amount paying 6.150% interest and maturing on
15 November 2037. It is expected that the net proceeds of the offering will be
used to refinance certain short-term indebtedness of the issuer and for general
corporate purposes. The offering closed on 29 October 2007.

This new issue represents Tesco's first US$ bond issue. Tesco have chosen to
issue in the US Dollar market because they want to introduce US bond investors
to Tesco, establish themselves in a new market, and diversify their investor
base.

Please note that the information contained in the Offering Memorandum for the
Notes may be addressed to and/or targeted at persons who are residents of
particular countries only and is not intended for use and should not be relied
upon by any person outside these countries and/or to whom the offer contained in
the Offering Memorandum is not addressed. Prior to relying on the information
contained in the Offering Memorandum you must ascertain from the Offering
Memorandum whether or not you are part of the intended addressees of the
information contained therein.


Enquiries:

Steve Webb, Tesco, Investor Relations                Tel: [phone]
Jonathan Church, Tesco, Press & Media                Tel: [phone]
Myles McBride, Citi                                  Tel: [phone]
John Mayne, JPMorgan Cazenove                        Tel: [phone]



                      This information is provided by RNS
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