Change of Auditor

5 November 2008

The Law Debenture Corporation p.l.c.

Fifth Floor

100 Wood Street

London

EC2V 7EX

The Law Debenture Corporation p.l.c.

Change of auditors

The Law Debenture Corporation p.l.c. (the "Corporation") announces that PKF
(UK) LLP ("PFK") has resigned as auditor to the Corporation with effect from 31
October 2008. As required by section 519 of the Companies Act 2006, PKF has
deposited a statement of the circumstances connected with its ceasing to hold
office (the "Statement") with the Corporation. Section 520 of the Companies Act
2006 requires the Corporation to send a copy of the Statement to shareholders
within fourteen days of the resignation and a copy of the Statement will
therefore be posted this week. PKF's resignation followed from the
Corporation's decision in accordance with corporate governance good practice to
re-tender the audit, it being six years since PKF's initial appointment.

Following a series of interviews with prospective auditors, the Corporation's
audit committee has recommended to the board that BDO Stoy Hayward LLP ("BDO")
be appointed to fill the casual vacancy caused by PKF's resignation. The board
has accepted this recommendation and an engagement letter will shortly be
signed between the Corporation and BDO, pending final agreement between the
parties.

Mike Hutchinson

Law Debenture Corporate Services Limited

Company Secretary

Tel.: [phone]

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