NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN

The Board of the London Stock Exchange (“the Exchange”) notes the publication today of Macquarie’s offer document. Macquarie’s offer ignores the quality and strength of the Exchange’s business and its long-term growth prospects. Macquarie’s offer is a blatant attempt to acquire the Exchange on the cheap. The Exchange also announces today, in a separate announcement, its third quarter results which underline the high growth that the Exchange has achieved.

The Board will be writing to shareholders within the next fourteen days to explain in detail its reasons for rejecting the Macquarie offer. In the meantime, shareholders are strongly recommended to take no action in respect of Macquarie’s offer.

For further information:

London Stock Exchange	John Wallace – Media	020 7797 1222
	Paul Froud – Investor Relations	020 7797 3322
Finsbury	James Murgatroyd	020 7251 3801
	Simon Moyse

The Directors of the Exchange accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Directors of the Exchange (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.

Merrill Lynch International, which is regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for the London Stock Exchange and no one else in connection with the Offer and will not be responsible to anyone other than the Exchange for providing the protections afforded to clients of Merrill Lynch International nor for providing advice in relation to the Offer.

Lehman Brothers Europe Limited, which is regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for the London Stock Exchange and no one else in connection with the Offer and will not be responsible to anyone other than the Exchange for providing the protections afforded to clients of Lehman Brothers Europe Limited nor for providing advice in relation to the Offer.

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