Result of Meeting

THE LAW DEBENTURE CORPORATION PLC
27 July 1999



At a meeting today, the Board of Directors of The Law Debenture Corporation Plc
agreed to propose to shareholders that the 3.85% Preference Shares be repaid at
par, together with accrued dividend and any premium to which they may be
entitled under the Articles of Association.

It is expected that the proposal will be put at an Extraordinary General Meeting
to be held in October 1999 and that, subject to the approval of the Court,
payment to holders of the Preference Shares will be made in November 1999.