1.1 Visit Egg’s website (www.egg.com) and assess how the company provides a valueadded service. On 11 October 1998 Prudential launched Egg, a new internet bank, based in a purpose-built communications centre at Pride Park in Derby.

Egg’s services are available seven days a week, 24 hours a day by internet, telephone and post.

Sir Peter Davis, chief executive of Prudential Corporation, said, ‘Egg is part of Prudential’s strategy for the UK to provide a broad range of products through a wide range of distribution channels. The launch of Egg anticipates the projected growth in direct distribution and electronic commerce.’ The initial services provided by Egg included savings, loans and mortgages. Within its first week of operation Egg’s website had received 1.75 million hits, plus around 100,000 telephone enquiries. By 2000 its services had expanded to credit cards, travel insurance, investment services, and web-based shopping.

Mike Harris, Egg chief executive, said, ‘Already Egg has made electronic trading a reality in UK personal finance. The internet is now set to play an increasingly important role in financial services in this country’.