Press releases 2001

29 October 2001

LONDON STOCK EXCHANGE NOTES EURONEXT'S OFFER FOR LIFFE

The Board of London Stock Exchange plc (LSE) notes the announcement earlier today by the Board of London International Financial Futures and Options Exchange (LIFFE) that it is recommending an offer from Euronext.

The LSE's proposed offer valued LIFFE at approximately 19.00 per share of which 12.00 was in cash and the balance in new LSE shares.

Clara Furse, Chief Executive of the LSE, said:

"We put forward a bold proposition for the creation of a combined business, which would have created the first single technology platform for securities and derivatives. We are surprised that LIFFE did not share our ambitious vision."

Don Cruickshank, Chairman, added:

"The London Stock Exchange is the largest stock exchange in Europe with a strong growing business and is engaged in other opportunities to broaden the scope and scale of its businesses both organically and through corporate transactions."