Press Release

A QUARTER OF UK WORKERS EXPECT TO EARN LESS IN 2009

New Equifax research reveals fears of UK households as New 30 Day Free Trial of Equifax Credit Report offers vital financial knowledge

London, January 29th 2009 - The prospect of a cut in overtime or a shorter working week means nearly a quarter of UK workers could earn less in 2009, according to new research* by leading instant online credit information provider, Equifax. And this could is likely to put enormous pressure on family budgets with increases expected in the cost of essentials such as utilities and council tax. The survey, conducted just before Christmas, also identified that many consumers have little money saved for a 'rainy day' with 31% saying they could only survive financially for up to a month if they lost their job.

Perhaps not surprisingly, men appear to be more confident about their future than women with just 26% of men who responded to the survey saying they could only survive financially for up to a month; 44% of women felt finances would be difficult to manage within a month. The 41-60 year olds were also more confident with only 26% saying they would face financial difficulties within a month of losing their job compared to 45% of 26-40 year olds.

"This latest survey amongst our customers highlights the very real fears being experienced by many families across the country" confirmed Neil Munroe, External Affairs Director, Equifax. "It is not surprising then that many households will be looking at what they can cut from their daily and monthly expenses, or perhaps delay making payments.

"The mobile phone bill was the regular monthly payment that the majority of our survey respondents said they would delay if they found it impossible to balance their finances, with a staggering 61% saying they thought this would have the least impact on their credit rating. Unfortunately the reality is that any missed payments will have an impact on an individual's credit rating and could make it really difficult to get service elsewhere."

With 78% of respondents to the Equifax survey being the main breadwinner in their family, the fact that 26% thought it could take them over 6 months to find another position in the same industry if they lost their job further highlights the concerns facing families at the moment.

"With so much uncertainty about future income we believe it is crucial for consumers to have a very close eye on their finances" continued Neil Munroe. "To make this as easy as possible, we have launched a new service which gives them access to their Equifax Credit Report for 30 days for free."

The new Equifax Credit Report, with the facility to access credit information for the first 30 days free, is accessible simply by logging onto www.equifax.co.uk. Designed to help individuals understand their credit file and see what lenders see to assess new credit applications, the Equifax Credit Report also includes expert tips and advice to help consumers take the right steps to manage their finances and navigate through life's challenges.

If the customer does not cancel before the end of the 30 Day Free Trial, the service will continue at £6.99 per month, giving them unlimited online access to their credit information and weekly alerts on any changes to their credit file. It also includes an online dispute facility to help them correct any errors on their credit file simply and quickly.

"It is clear from our research, that the rising cost of living and economic uncertainty is putting pressure on UK householders. We urge people to get a clear picture of their financial status today and protect themselves from tough times ahead. Individuals can log on to www.equifax.co.uk and get 30 days free access to their Equifax credit report, putting them in control of their finances." Survey conducted amongst 675 Equifax Customers, December 2008.

ENDS

For interviews with Neil Munroe please contact the Equifax Press Office: Wendy Harrison, Cecile Stearn, Elinor Puzey or Louise Fowler on 020 8977 9132. cecile@harrisonsadler.com