Annual report and financial statements 2008

Corporate governance statement

The Board is committed to achieving success for the Company by building a sustainable business for the long term, generating shareholder value through consistent profitable growth whilst making sure that our customers can always trust us to do the right thing. This statement explains our governance policies and practices and provides insight into how the Board and management run the business for the benefit of shareholders. The governance rules which apply to all UK companies listed on the London Stock Exchange are found in the Combined Code on Corporate Governance which was updated by the Financial Reporting Council in June 2006 (the ‘Code’). A detailed account of how the Company has applied the Code’s principles and how we comply with its provisions can be found in the investors section of our website at marksandspencer.com/thecompany.