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EGG 2Q/05

5, Country, Priority, UNITED KINGDOMBy Robert McKinley 08/16/2005

Egg reports that its UK credit card balances grew 5% during the first half and 22% year-on-year. However, operating profits for its UK business, mostly VISA cards, declined 35% in the second quarter to GBP13.1 million. During the second quarter, Egg opened 94,000 new credit card accounts in the UK, compared to 139,000 in the first quarter. Total outstandings for Egg credit cards increased 22% to GBP3.8 billion, compared to one-year ago. Net interest income in the second quarter was GBP75.3 million, compared to GBP70.8 million in 1Q/05. Operational and administrative costs declined slightly to GBP36.9 million for the quarter, versus GBP37.1 million on the first quarter. Egg is in the process of unloading its credit card business in France. For complete details on Egg’s second quarter performance, visit CardData (www.carddata.com).

Egg Cracks a Profit, Ready to Flee France

5, Country, Priority, UNITED STATESBy Robert McKinley 07/28/2004

After losing more than $182 million on its French VISA card over the past five quarters, Prudential’s UK-based Egg is withdrawing from the French market. For the second quarter, Egg produced an operating profit for its British “Egg VISA” card of $35.3 million versus an operating loss of $30.0 million for its French “la Carte Egg VISA.” Overall, the Egg plc Group made a profit of $1.8 million in the second quarter leading to an overall loss before tax for the first half of 2004 of $7.3 million, down from a loss of $41.9 million in the same period last year. The Group has been trying to sell-off both credit card portfolios but no deal has been announced to-date. During the quarter, Egg added 171,000 new credit cardholders to bring its total portfolio to 2,944,969 cardholders. Total Egg credit card outstandings were $5,630 million at the end of June. For complete details on Egg’s second quarter performance visit CardData ([www.carddata.com][1]).

EGG SNAPSHOT
UK VISA FRENCH VISA
2Q/03: +$35.3 million -$45.0 million
3Q/03: +$36.4 million -$37.8 million
4Q/04: +$29.3 million -$35.6 million
1Q/04: +$27.6 million -$28.7 million
2Q/04: +$35.3 million -$30.0 million
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

EGG 2Q/04

5, Country, Priority, UNITED KINGDOMBy Robert McKinley 07/27/2004

After racking up nearly GBP100 million on losses for its “la Carte Egg VISA” in the last five quarters, Prudential’s Egg is
withdrawing from the French market. For the second quarter, Egg produced an operating profit for its British “Egg VISA” card of GBP19.4 million versus an operating loss of GBP16.5 million for its French “Egg VISA.” Overall, the Egg plc Group made a profit of GBP1 million in the second quarter leading to an overall loss before tax for the first half of 2004 of GBP4 million, down from a loss of GBP23 million in the same period last year. The Group has been trying to sell-off both credit card portfolios but no deal has been announced to-date. During the quarter, Egg added 171,000 new credit cardholders to bring its total portfolio to 2,944,969 cardholders. Total Egg credit card outstandings were GBP3,091 million at the end of June.

Egg Cuts Losses by 68% in the First Quarter

5, Country, Priority, UNITED STATESBy Robert McKinley 05/03/2004

Prudential’s Egg credit card and personal loan business in Europe cut its losses substantially in the first quarter from $27.8 million one-year ago to $8.7 million. The issuer says it managed discretionary expenditures tightly and is still in the process of unloading its credit card business. CardFlash International this morning reported that MBNA and Egg and close to signing a deal. In the UK, Egg posted first quarter profits of $26.6 million, and in France the loss for the quarter reduced to $28.3 million. Egg says it added 148,000 net new customers in the UK during the first quarter. Unsecured lending balances in the UK grew by $421 million to quarter end balances of $8.9 billion. In France, card balances increased $222 million, up 9% on the prior quarter. At the end of the quarter, Egg France had 71,000 cards in issue with 85% of card balances revolving. For complete details on Egg’s first quarter performance visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

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EGG 2Q/05

Egg Cracks a Profit, Ready to Flee France

EGG 2Q/04

Egg Cuts Losses by 68% in the First Quarter