PROPERTY SALE AND LEASEBACK TRANSACTION

13 February 2013

TESCO ANNOUNCES NEW PROPERTY SALE AND LEASEBACK TRANSACTION

Tesco has completed a new sale & leaseback transaction involving UK property assets.

Four trading stores and three mixed-use sites under development have been sold for a total consideration in excess of £490m for an average net initial yield of 4.7%.

The deal is structured as a 50-50 joint venture with the Cambridge University Endowment Fund.

The transaction is being primarily funded by fixed rate notes issued by Tesco Property Finance 6 PLC.

Enquiries:

Tesco, Investor Relations: Chris Griffith +44 (0) 1992 644 800

Tesco, Press & Media: Tom Hoskin +44 (0) 1992 644 645