Scrip Dividend

Tesco PLC
13 October 2004

13 October 2004

Tesco PLC

SCRIP DIVIDEND CIRCULAR

A circular to Tesco PLC shareholders containing details of the offer of a scrip
dividend alternative in respect of the 2004 interim dividend is being posted
today to shareholders who were on the register on the record date of 1 October
2004.

The price at which the scrip dividend alternative shares are being offered is
288.85p per share and the offer closes on 5 November 2004.

A copy of the circular has been submitted to the UK Listing Authority and will
shortly be available for inspection at its Document Viewing Facility, which is
situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
Telephone number 020 7066 1000

Enquiries:                   M J Field
                             Deputy Secretary
                             Tesco PLC
                             Tel:      [phone]


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