Marks and Spencer Group p.l.c announces today that its combined credit card and loyalty programme - the '&more' Credit Card - will go live nationally on 6th October 2003. Alongside this Marks & Spencer Financial Services is being rebranded as 'Marks & Spencer Money'.

The '&more' Credit Card can be used in all outlets which accept credit card payments. Spend on the card will earn loyalty points, which will accumulate and be translated into '&more' reward vouchers for use in Marks & Spencer stores. 2.6 million existing Chargecard users will be upgraded to the new card during September. Other customers will be able to apply for the new credit card from 6th October.

Commenting on the announcement, Roger Holmes, Group Chief Executive said:

"Marks & Spencer Money forms an important part of our overall Group strategy. The '&more' Credit Card launch will provide us with a strong platform for future growth."

Laurel Powers-Freeling, Chief Executive, Marks & Spencer Money commented:

"The 11 month pilot in South Wales has given us a robust foundation for the rollout of the '&more' card. We will provide our card customers with an upgraded offer, rewarding them for using the '&more' Credit Card and their loyalty for shopping at Marks & Spencer, whilst at the same time developing our position as a responsible and prudent lender."

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For further information, please contact:

Tony Quinlan / Sarah McGlyne, Investor Relations 0202 268 4195/1563
Bella Pagdin / Sue Sadler, Corporate Press Office 0207 268 1919
Louis Hill / Lucy Cooke, Marks & Spencer Money Press Office 01244 686 669/693

Key features of the new '&more' Credit Card:

• Standard retail APR 14.9% (Chargecard 18.9%)
• Automatic membership of '&more' reward programme (no separate card)
• No annual fee
• Up to 55 days interest-free credit
• Minimum payment 3% or £5 (whichever is greater)

• 2.6 million current Chargecard holders will be upgraded to the '&more' Credit Card during September
• Customers who do not wish to be upgraded will be able to opt-out and retain their Chargecard, on which they will earn '&more' points from 6th October

Reward programme:

• 1 point per £1 spent in Marks & Spencer UK stores, catalogue and internet
• 1 point per £2 spent outside Marks & Spencer
• '&more' points converted into vouchers to spend exclusively at Marks & Spencer UK stores
• Quarterly brochure detailing '&more' bonus point offers available at Marks & Spencer

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