M&S Money Study Discovers the Return of Family Meetings

LONDON, November 18, 2010 - M&S Money has revealed the results of its latest study which shows that
family meetings are back in vogue with Brits who have turned their focus on
finances, instead of just the traditional family politics.

The new 'family finance' study shows families across the UK are coming
together to discuss everything from holidays and TVs to credit cards and
broadband.

The research found that the majority of family households discuss,
research and plan how they spend their money together. 59% of families make
all their financial decisions together before buying anything.

The study found that one in ten families take the traditional route and
seek wisdom from the older generation by involving their own parents in
making financial decisions for their household, but parents are increasingly
involving their entire families. Children who are under 18 are now commonly
involved in decisions regarding buying furniture and clothes, to holidays and
cars. Indeed, of those with children at home, 24% said their kids help decide
on where to go on holiday, and 44% said their kids help decide on their
wardrobe.

Colin Kersley, chief executive of M&S Money, said: "British families are
embracing the old adage that 'two heads are better than one'. We've seen a
revival of traditional family meetings to discuss what to spend the family
cash on. Children and even grandparents are involved in a variety of
decisions from fridges to credit cards.

"I think this is a really positive move for the nation's families - the
idea of getting together as a team and playing a part in crucial decision
making together is a wonderful development. Being open and honest about
family finances can only bode well, opening up the next generation's eyes to
running a household's finances."

When it comes to the crunch of actually paying, 31% of couples will split
the bill - sharing the cost fairly. The research found this is most likely to
happen in Wales (44%), whereas only 23% of Londoners who hold family meetings
to decide on how to spend their cash go on to share the cost.

However, the study also found one in five women in relationships do all
the research, make the final decision and fund the purchase - with only a
small proportion (4%) handing over total responsibility to their partner.

Notes to Editors:

Opinium Research carried out an online poll of 2001 British adults from
25th to 30th August 2010. Results have been weighted to nationally
representative criteria.

About M&S Money:

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, making 2010 the company's 25th anniversary.

The company is a top-ten credit card (
money.marksandspencer.com/cards/credit-card/) provider and the
second-largest travel currency (
money.marksandspencer.com/travel/travel-money/overview/) retailer in
the UK. M&S Money also offers a range of insurance cover, including home and
contents insurance (
money.marksandspencer.com/insurance/home-insurance/overview/), car
insurance and travel insurance cover (
money.marksandspencer.com/insurance/travel-insurance/overview/), as
well as loans, savings and investment products.

In November 2004, Marks & Spencer sold M&S Money to HSBC. HSBC Holdings
plc, the parent company of the HSBC Group, is headquartered in London. The
Group serves customers worldwide from around 8,000 offices in 88 countries
and territories in Europe, the Asia-Pacific region, the Americas, the Middle
East and Africa. With assets of US$2,364 billion at 31 December 2009, 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 please call the M&S Money press office:

    Simon Coughlin
    Media Relations Manager
    M&S Money
    8 Canada Square
    Canary Wharf
    London
    E14 5HQ
    +44(0)20-7992-1574
    money.marksandspencer.com

Simon Coughlin, Media Relations Manager, M&S Money, 8 Canada Square, Canary Wharf, London, E14 5HQ, +44(0)20-7992-1574, money.marksandspencer.com