� Resorts outside the eurozone continue to grow in popularity among British holidaymakers � Middle East grows in popularity among Brits seeking winter sun � Demand to exchange foreign currency for sterling increases at M&S bureaux

The M&S Q1 2009 travel money report analyses data from sales at the national network of M&S in-store bureaux de change from January to March 2009. Growing popularity of holiday resorts outside the eurozone continues A recent survey by M&S Money revealed that more than a third of British travellers* (36%) take into account the strength of a country�s currency in relation to the pound when planning a holiday abroad. It�s not surprising, therefore, that holiday resorts outside the eurozone continue to increase in popularity as Brits look for the best value destinations. Egypt and Turkey - two of the most popular destinations in 2008 � are set to be firm favourites again this year. Sales of Egyptian pound and Turkish lira have increased by 20% and 46% respectively in Q1 compared to the same period in 2008. M&S bureaux staff have also reported increased demand for the Kenyan shilling. The Kenyan government is keen to boost tourism in the country and recently announced that Visa rates would be cut to make the country more appealing to visitors. The Minister of Tourism for Kenya announced that entry visa rates are to be reduced by 50% and completely cut for children under 16 from April 1 until the end of 2010. For travellers seeking a short-haul destination, Iceland is set to be a popular option this year. British travellers now get much more for their money when visiting Iceland - the strength of the krona against the pound has dropped by 65% compared to March 2008. Year-on-year sales of the krona have increased by 32%. The long-haul destinations of South Africa and Mexico are also enjoying increased interest from UK holidaymakers. James Yerkess, M&S Travel Money Manager, said: �The falling value of the pound in the past year means that holidaymakers are looking around for resorts where they are getting more for their money. Brits still want to enjoy a holiday, but they are being more selective about where they go.� Middle Eastern countries show promise Brits have been enjoying winter sun in various countries across the Middle East, with currencies used in the region seeing a large increase in year-on-year sales. Dubai and the other UAE states have grown in popularity as a destination for Brits in recent years, whether on holiday, for business or visiting friends and family. The UAE dirham is now a top ten selling currency at M&S, with a 12% increase in Q1 compared to the first three months of 2008. Other countries in the region which have seen large increases in sales of their currency include Saudi Arabia, Kuwait and Qatar. James Yerkess, M&S Travel Money Manager, said: �The Middle East has become an increasingly popular winter destination for people eager to get away from the cold weather and soak up the sun. Destinations such as Dubai offer state-of-the-art hotels and world class facilities. �M&S bureaux staff can offer advice on currencies to holidaymakers, including whether there is a restriction on the amount of cash you take into a country. Travellers should also remember that many of these countries have far stricter laws and we advise checking with the Foreign Office to ensure you are aware of legal restrictions.� Increase in foreign currency exchange continues at M&S bureaux M&S Money is continuing to see a large increase in people exchanging foreign currencies for sterling, with a 21% year-on-year increase in the amount of foreign currency exchanged for sterling at M&S bureaux during Q1. As the strength of currencies including the euro, US dollar and Japanese yen has grown against sterling in the past year, customers using the M&S commission-free �buy back� service are now much better off when exchanging foreign currency. Customers are also exchanging large amounts of Australian dollars, Swiss francs and UAE dirhams. Customers exchanging foreign currency at M&S bureaux fall into one of three categories: 1. Tourists visiting the UK: Staff at M&S bureaux in tourist hotspots including London and Oxford welcome large numbers of foreign visitors. 2. Travellers returning home: Many holidaymakers are taking more cash with them when travelling abroad to compensate for the weak pound. A recent survey* commissioned by M&S Money found that 29% of travellers opt to change spare foreign cash back to sterling as soon as they return to the UK. Any spare cash brought home can be exchanged at M&S. 3. Householders digging-out old currency: The weak pound means that leftover foreign notes are now worth exchanging back to sterling. James Yerkess, M&S Travel Money Manager, said: �Throughout last year, as the strength of the pound fell against many currencies, we saw a steady increase in the amount of foreign currency exchanged for sterling in our bureaux. Tourists and British travellers returning home want to make the most of the relatively strong �buy back� rates.� Top 10 selling currencies Q1 2009 1 Euro 2 US dollar 3 Australian dollar 4 South African rand 5 Swiss franc 6 Canadian dollar 7 Egyptian pound 8 New Zealand dollar 9 UAE dirham 10 Thai baht

Top 10 �buy� currencies Q1 2009 (customers exchanging currency for sterling at M&S bureaux) 1 Euro 2 US dollar 3 Japanese yen 4 Australian dollar 5 Swiss franc 6 UAE dirham 7 Canadian dollar 8 South African rand 9 Hong Kong dollar 10 Norwegian krone Top 10 currencies with largest increase in year-on-year sales Q1 2009 1 Kenyan shilling 2 Saudi riyal 3 Kuwaiti dinar 4 South Korean won 5 Mexican peso 6 Turkish lira 7 Jamaican dollar 8 Philippine peso 9 Iceland krona 10 Qatari riyal

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Notes to Editors *All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2154 adults. Fieldwork was undertaken between 23rd � 26th January 2009. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).

M&S Travel Money - Key Features Excellent exchange rates and exchange rates updated daily Over 50 currencies available by phone, and on average 32 currencies available on demand in our Bureau de Change No commission on foreign currency notes and foreign currency travellers' cheques (1% charge on sterling travellers' cheques) Commission-free buy-back M&S in store bureaux de change open seven days a week, including weekday evenings up to 10.00pm depending on store opening hours Free delivery on telephone orders of �500 or more (for orders of less than �500 there is a �5 delivery charge) Fully insured registered post No cash advance fee and up to 55 days interest-free credit if you pay for your Travel Money using your M&S Credit Card. Typical 15.9%APR (variable). Credit subject to status to UK residents aged 18 or over. Only notes are bought back in the Bureau, not coins.

M&S Money (the trading name of Marks & Spencer Financial Services) was founded in 1985 as the financial services division of Marks and Spencer Group plc. The company is now a top ten credit card provider and the second largest travel money retailer in the UK. M&S Money also offers a range of insurance cover, including home insurance and car insurance, as well as loans, savings and investment products.

In November 2004, Marks & Spencer sold M&S Money to HSBC. The Group serves customers worldwide from around 9,500 offices in 86 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,527 billion at 31 December 2008, HSBC is one of the world�s largest banking and financial services organisations. HSBC is marketed worldwide as �the world�s local bank�. M&S Money has an executive committee comprising an equal number of representatives from HSBC and Marks & Spencer.

For further information and case studies of customers who have purchased travel money at M&S, please call the M&S Money press office: Liz Neild on 01244 686 068 liz.a.neild@mandsmoney.com Simon Coughlin on 020 7992 1574 simon.coughlin@mandsmoney.com An ISDN line is available for broadcast interviews