Retail Direct - 4 October 2004

Presentation
Introduction	Sir Fred Goodwin (Group Chief Executive)
Retail Direct Introdution and Overview	Chris Sullivan (CEO, Retail Direct)
Card Issuing	Iain Clink (MD, Cards Business)
Merchant Acquiring	Tony Surridge (MD, Acquiring)
The One Account	Jayne-Anne Gadhia (MD, The One Account)
Tesco Personal Finance	Jim MacDonald (CEO, Tesco Personal Finance)
International Establishing Strategic Options & Conclusion	Chris Sullivan (Chief Executive, Retail Direct)
Questions & Answers

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