Tesco buys Adminstore Ltd

Tesco PLC
22 January 2004


           TESCO ANNOUNCES OFFER FOR ADMINSTORE LTD CONVENIENCE CHAIN

The board of Tesco PLC today announced that it has made an offer to acquire the
entire issued share capital of Adminstore Limited. This is a small private
transaction to acquire 45 convenience shops trading mainly as Europa, Harts and
Cullens. The offer is conditional upon receiving shareholder acceptance and
regulatory clearance.

Customers like Tesco Express stores. The deal will bring the Tesco shopping
experience to more local neighbourhoods in Central London. Customers will
benefit from lower prices and improved choice, range and service.

The offer is worth a total of £53.7 million before stock, completion adjustments
and acquisition costs.

Jitu Patel, Adminstore Ltd Managing Director, said: 'This is good news for us.
We have built a successful business and our stores are well located for
delivering convenience to customers. Tesco's knowledge and skills will take our
stores to even greater heights in the years to come.'

                                     -Ends-

For further information please contact:

Press                  Lucy Neville-Rolfe 01992 646 606
                       Jonathan Church    01992 646 606
Investor Relations     Steve N Butler     01992 644 800


Notes to editors

About Adminstore Ltd:

1.   In their last annual accounts to September 2002 Adminstore Ltd. reported
turnover of £72.8 million and profit before tax of £2.1 million.

2.   Jitu Patel, Managing Director of Adminstore Ltd entered into the
convenience retailing market in 1979 and began by building a chain of seven
stores trading as Crispins food and wine. In 1985 Jitu Patel and Mahesh Patel
and the principal shareholders and other family members established Adminstore
Ltd. They acquired the Europa Foods chain, a well-known business in the London
area and invested substantially in the stores to grow the business. Further
growth came from acquisitions of other small chains including Market Stores food
and Wine and Cullens.




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