Alteration to Cap Structure

Law Debenture Corp PLC
5 March 2002


Alteration to capital structure

The Law Debenture Corporation p.l.c. announces that it intends to seek 
shareholder approval at the Company's forthcoming annual general meeting on 9 
April 2002 for a sub-division of its shares. The details of the proposed 
sub-division are described to shareholders in the notice of the annual general 
meeting, which is being posted today. In summary, the directors intend to 
sub-divide all of the Corporation's 26,600,000 existing ordinary shares of 25 
pence each on a five for one basis into 133,000,000 ordinary shares of 5 pence 
each.

Subject to shareholder approval, the shares will begin trading on the 
sub-divided basis following announcement of the Corporation's interim results on 
or about 31 July 2002. A further announcement will be made nearer the time, 
giving the exact date.

Copies of this announcement are available from the registered office at Fifth 
Floor, 100 Wood Street. London. EC2V 7EX.



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