M&S Money Warns Insurance Homework Should be a Priority for Today's Students

LONDON, September 28, 2010 - A new survey by M&S Money* has revealed that, as thousands of students
prepare to head to university, the average student bedroom contains a massive
GBP1620 worth of gear - yet only half of students have contents insurance.

The poll found that the average student crams into their room almost
GBP699 worth of electrical gadgets and appliances, GBP444 worth of clothes,
sports equipment valued at GBP246 and textbooks worth GBP231.

The huge value of a student's bedroom is not surprising, with over half
of students (55%) owning a laptop, 48% possessing a MP3 player and 20% a
widescreen television.

The survey also revealed that 27% of students have been burgled while at
university with 71% being burgled more than once.

Despite this, only 52% of students who took part in the survey said that
they have insurance to cover their possessions whilst the items are in their
student accommodation.

M&S Money points out that many students heading to university will not
need to buy a standalone student policy and should check if their parents'
home insurance policy provides sufficient cover.

Students whose parents have M&S Premier Home Contents insurance receive
unlimited cover for their possessions while living in student accommodation.
This covers events such as damage, flood or theft from halls.

The student bedroom of 2010 is very different from student bedrooms of
the 80s. To mark the 25th anniversary of the launch of the financial services
arm of M&S**, M&S Money surveyed students who went to university in 1985 to
find out their most cherished items.

Andrew Ferguson, M&S head of General Insurance, said: "While the contents
of a student's bedroom have changed a great deal in the past 25 years, one
thing remains the same - they have expensive tastes.

"Students of 2010 preparing for the new academic year may see insurance
as an unnecessary expense on top of everything else. But as our survey shows
the modern day student bedroom is a goldmine for thieves, so insurance could
be the best investment students make this autumn.

"Many students would be surprised to know that their valuables may
already be covered - they just need to check whether their parents' home
insurance (
money.marksandspencer.com/insurance/home-insurance/overview/) policy
covers their property when away from home."

Notes to Editors:

* Figures from OnePoll. Total sample size was 500 adults attending
university in 2010 and 500 adults who attended university in 1985. Fieldwork
was undertaken 14-23 August 2010. The survey was carried out online.

** St Michael Financial Services was formed in 1985 to oversee the
introduction of the M&S Chargecard, which was launched nationally in stores
on 2nd April 1985.

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/overview/) provider and
the second-largest travel money retailer in the UK. M&S Money also offers a
range of insurance cover, including M&S Car Insurance (
money.marksandspencer.com/insurance/car-insurance/overview/) home
insurance and family pet insurance, (
money.marksandspencer.com/insurance/pet-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. M&S Home Insurance policies
are provided by AXA Insurance UK plc. Terms, conditions, exclusions and
limitations apply. Calls may be monitored and recorded.

    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

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