Investigation into trading in Marks & Spencer plc shares and derivatives

On 28 May 2004, the Financial Services Authority (FSA) announced that it was reviewing trading in the securities of Marks & Spencer Group and related derivative instruments prior to the announcement, on May 27 2004, of a possible offer for the company by Revival Acquisitions.

On 25 June, following these initial inquiries, the matter was referred to the FSA's Enforcement Division for investigation.

On the basis of the facts the FSA has established, there are no ongoing inquiries in respect of Mr Stuart Rose.

Notes for editors

1. The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; securing the appropriate degree of protection of consumers; and fighting financial crime.

2. The FSA aims to maintain efficient, orderly and clean financial markets and help retail consumers achieve a fair deal.