Interim Management Statement

15 May 2008

                              Tullett Prebon plc                               

                AGM Statement and Interim Management Statement                 

Tullett Prebon plc is today issuing its first Interim Management Statement in
accordance with the EU Transparency Directive and FSA requirements. This
statement will be delivered to those attending the Annual General Meeting
today.

Business update

A number of actions were taken during 2007 to accelerate the rate of revenue
growth, including the acquisition of Chapdelaine which strengthened our
presence in corporate bonds and credit derivatives in North America, the hiring
of a significant number of new brokers in the faster growing sectors of the
market, the hiring of a new team to lead our electronic broking initiative, and
the restructuring of our joint venture in Tokyo. We have continued to invest in
new broker hires in those product areas which we believe have the best
potential for future revenue growth, and we continue to actively pursue
acquisition opportunities to broaden and deepen our geographic and product
coverage.

As previously announced, in March this year we completed the acquisition of
Primex Energy Brokers, a leading UK based broker in a wide range of petroleum
markets, carrying out over-the-counter broking for financial institutions and
major energy companies in crude oil, middle distillates and fuel oil. This
acquisition will complement and enhance our existing Energy business which is
currently focused primarily on power and gas products. The total consideration
for the acquisition is up to £20m. The initial consideration comprised £1.9m in
cash and £11.1m in Tullett Prebon plc equity (being 2,262,196 ordinary shares).
A further £7m in Tullett Prebon plc equity (being 1,420,212 ordinary shares) is
payable in 2011 subject to earn-out targets being achieved.

Trading in the first four months of 2008 reflects the benefit of these actions
as well as the favourable market conditions. The inter-dealer broker business
thrives on volatility in financial markets, and the high volatility that we
experienced in June and throughout the second half of 2007 has continued into
the first four months of this year. Revenue in the four months to April was 
£320m, 32% higher than in the equivalent period last year, when levels of
volatility were relatively low.

Commenting on the performance, Terry Smith, Chief Executive, said:

"As a result of the actions we are taking to accelerate the rate of revenue
growth, we are increasingly well placed to benefit from the current market
conditions. Although it is not possible to make accurate predictions about how
long these conditions are likely to prevail, our outlook for Tullett Prebon
remains positive, and at this stage we expect a good outcome for the year."


Enquiries:

Nigel Szembel, Head of Communications, Tullett Prebon plc
Mobile: [phone]