Set the source for the combo box to select the town and the postcode. Set the displayed column widths for the combo box to 1" (or whatever is appropriate for the town) and 0" (1";0"), unless you also want to display the postcode with the town.
For the After update property of the combo box, include the following code:
me.Postcode = me.cboTown.column(1)
This will put the postcode value from the selected row in the combo drop down list into the postcode field. (Note that the column numbers start at 0 for this statement, even though on the properties you would refer to this column as column 2!)
You might also set the locked property of the postcode to true so the user could not change it.
If the correct postcode is not displayed when you go to a different record, set the on current property of the form to include the following code:
me.cboTown.requery
me.cboPostcode = me.cboTown.Column(1)