Press releases 2000

11 September 2000

RESPONSE TO POSTING OF OM GRUPPEN'S OFFER DOCUMENT

The Board of the London Stock Exchange plc ("LSE") notes today's announcement by OM Gruppen regarding the posting of its offer document to LSE shareholders.

The Board, which is being advised by Schroder Salomon Smith Barney and Merrill Lynch, will write to shareholders setting out detailed reasons for rejecting OM's offer in due course.

The strategic rationale for the creation of iX-international exchanges is to create a growth-oriented, cost-efficient market leader in European capital markets. A combination with OM achieves far less for LSE's customers and shareholders.

Don Cruickshank, Chairman of LSE, said today:

"The terms of OM's offer are derisory and, more importantly, their business case is deeply flawed. We have a vision of building a business that will keep the Exchange at the centre of the European equity market. OM's proposal represents a cul-de-sac for the UK market. The offer document provides nothing new for our shareholders to consider."

-ends-

Schroder Salomon Smith Barney and Merrill Lynch, which are regulated in the United Kingdom by The Securities and Futures Authority Limited, are acting for London Stock Exchange plc and no one else in connection with the offer by OM and will not be responsible to anyone other than London Stock Exchange plc for providing the protections afforded to their respective customers or for providing advice in relation to the offer.