Issue of Debt

Legal & General Group PLC
20 November 2001

20 November 2001



                          Legal & General Group Plc

 Legal & General successfully completes convertible bond issue to raise £525m

Legal & General is pleased to announce the results of the convertible bond
offering announced this morning. The convertible bond, which will mature in
December 2006, will carry a coupon of 2.75% per annum and a conversion price
of 204p per share which represents a premium of 30 per cent. over the
reference share price of 157p at the time of pricing.

UBS Warburg and Goldman Sachs International are acting as joint bookrunners to
the convertible bond issue. Settlement of the convertible bond is expected to
take place on December 18.

Contacts
Investors:
Peter Horsman                             020 7528 6362
Head of Investor Relations                [e-mail]
Neville Walton                            020 7528 6250
Director of Corporate Communications      [e-mail]

Media:
John Morgan                               020 7528 6213
Head of PR                                [e-mail]
Tony Carlisle                             07973 611888
Citigate Dewe Rogerson                    020 7638 9571
                                          [e-mail]

Notes:


 1. In connection with the issue of the convertible bonds UBS AG, acting
    through its business group UBS Warburg ('UBS Warburg'), may effect
    transactions which stabilise or maintain the market price of the
    convertible bonds and/or the ordinary shares at levels which might not
    otherwise prevail. Such stabilisation, if commenced may be discontinued at
    any time.

 2. This press release does not constitute an offer of, or an invitation by or
    on behalf of Legal & General Group Plc, UBS Warburg or Goldman Sachs
    International to subscribe for or purchase, any of the convertible bonds
    or ordinary shares of Legal & General Group Plc.

 3. The information contained herein is not for distribution in the United
    States, Canada or Japan. The convertible bonds may not be offered or sold
    in the United States unless they are registered under applicable law or
    exempt from registration. The convertible bonds referred to herein have
    not, and will not, be registered under the U.S. Securities Act of 1933 and
    may not be offered or sold, subject to limited exceptions, directly or
    indirectly into the United States.