Increase in MandS Variable Cash ISA interest rate

Variable Cash ISA interest rate to increase to 5.75%

Fixed Rate Savings also offer guaranteed interest rates up to 6.16% Thanks to the MandS Cash ISA Guarantee to be at least equal to Bank of England base rate until 31st December 2007, MandS Money is increasing its variable Cash ISA rate from 5.50% to 5.75% AER/tax-free* with effect from tomorrow, Friday 6th July 2007.

This is in response to the decision by the Monetary Policy Committee to increase the Bank of England Base Rate by 0.25%, and will apply to the MandS Mini Cash ISA, Tessa Only ISA and the cash component of the MandS Maxi ISA.

MandS Fixed Rate Savings are also available inside an ISA wrapper.

Guarantee Interest Rates: 1 year term 6.16% AER/tax free*.

2 year term 6.06% AER/tax free*.

3 year term 6.00% AER/tax free*.

Unlike most providers, MandS Money allows customers to mix and match their savings between its fixed and variable rate savings options within their Cash ISA.

Customers can choose between fixed and variable rates of interest, or split their annual allowance between the two, using one simple application form.

Transfers into MandS Cash ISA (both fixed and variable rates) from other providers' Cash ISAs are accepted.

Customers can apply for MandS Cash ISA at www.marksandspencer.com/minicashisa, or by calling MandS Money free on 0800 028 2824.

Notes.

AER is the Annual Equivalent Rate and illustrates what the rate of interest would be if interest is paid and compounded once a year.

Tax-free means the rate of interest where interest is exempt from income tax.

Rate correct as at Friday 6th June 2007.

Interest added annually.

We guarantee to maintain the interest rate on the MandS Mini Cash ISA at a rate at least equal to Bank of England base rate until 31st December 2007.

Upward changes in variable interest rate will be made within 5 working days of a change in the Bank of England Base Rate.

Fixed Rate Savings: * Within an ISA - the minimum deposit is £500 up to Mini Cash ISA allowance of £3,000 per tax year.

* Early withdrawals are permitted during the term but will be charged at a fixed flat withdrawal charge (£50 for 1 year term, £75 for 2 year term, £100 for 3 year term).

The charge may mean a customer gets back less than they originally deposited if they withdraw their savings before the term end date.

Partial withdrawals are not permitted.

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