Press releases 2001

23 March 2001

LONDON STOCK EXCHANGE ANNOUNCES MANAGEMENT RESTRUCTURE

Clara Furse, Chief Executive at the London Stock Exchange today announced a reorganisation of the Exchange's management structure. The changes are designed to focus high level resource on strategic development, and further strengthen the Exchange's marketing and communications drive. This underlines the Exchange's commitment to build and expand its international business by developing its customer services and infrastructure.

The new position of Deputy Chief Executive, with responsibility for Corporate Strategy and Development, is filled by Martin Wheatley, until now Director of Business Development at the Exchange. Nick Gammage, currently Communications Director at the Consumers' Association, will take up the new role of Director of Communications, with responsibility for developing and implementing the Exchange's communication strategy.

In addition Jonathan Howell becomes the Director of Finance with specific new responsibility for Investor Relations.

Andrew McStravick becomes Director of Operations, a new and expanded management role. A new post of Director of Marketing has been created to drive the sales and marketing effort of the Exchange. Until the appointment is made, Clara Furse will take direct responsibility for this important position. A Chief Information Officer is also to be appointed to carry forward the Exchange's systems business and to develop its information services products.

Clara Furse, Chief Executive at the London Stock Exchange, said:

"This reorganisation puts in place a management structure which focuses the Exchange on building its future. It puts us in a strong position to manage key strategic relationships and develop and implement strategic change. It will focus our efforts more closely on meeting and anticipating our customers' needs. I am very pleased that one of Martin Wheatley's first tasks as Deputy Chief Executive will be to host our European marketing events, part of our plan to strengthen the power of our brand and internationalise our services. I am also delighted to welcome Nick Gammage to the Exchange. He will provide fresh impetus to our strategy which aims to enhance the Exchange's worldwide reputation. Now more than ever, the London Stock Exchange is strongly placed to build on its role as Europe's pre-eminent stock exchange."

ends

Note to editors:

* No changes to the Board's structure have been made. Martin Wheatley and Jonathan Howell remain Board Directors.

Nick Gammage : Principal Appointments

Summary of Management after changes

Deputy Chief Executive, Martin Wheatley
Director of Communications, Nick Gammage
Director of Marketing, Clara Furse (Acting)
Director of Finance, Jonathan Howell
Director of Operations, Andrew McStravick
Chief Information Officer, Martin Wheatley (Acting)