Press releases 2006

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO CANADA OR JAPAN

19 January 2006

Document Posting in Response to Macquarie’s Offer

The Board of the London Stock Exchange is today posting its response to Macquarie’s offer document. The Board continues to recommend that London Stock Exchange shareholders reject Macquarie’s ill-considered 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

A copy of the London Stock Exchange’s shareholder circular responding to Macquarie’s offer is available on: http://www.londonstockexchange-ir.com/lse/bid/

The Directors of the London Stock Exchange accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Directors of the London Stock 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 London Stock 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 London Stock Exchange for providing the protections afforded to clients of Lehman Brothers Europe Limited nor for providing advice in relation to the Offer.