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: 019 9264 4800 Jonathan Church, Tesco, Press & Media Tel: 019 9264 6606 Myles McBride, Citi Tel: 020 7986 8969 John Mayne, JPMorgan Cazenove Tel: 020 7155 4917 This information is provided by RNS The company news service from the London Stock Exchange

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Tesco (TSCO)
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