New global numbering system

London Stock Exchange Plc
07 November 2002

7 November 2002


             EXCHANGE TO INTRODUCE NEW GLOBAL NUMBERING SYSTEM

The London Stock Exchange today announced that it is to introduce a new global
numbering system for securities to help significantly reduce the number of
failed cross-border trades.

With brokers and their clients becoming increasingly global in operation, and
focusing more on processing efficiencies, it has become apparent that the
absence of a market-level, global security identifier is a major cost to the
industry.

Failed cross-border trades cost the global securities industry around £800
million every year.  It is estimated that £125 million of this loss can be
linked directly to problems identifying the securities involved in cross-border
transactions.

These include existing systems being unable to provide codes quickly enough in
the trading cycle, as well as difficulties providing codes for those with
multiple listings.

After extensive discussions with users and vendors, the Exchange's existing
seven-character numeric SEDOL code will be updated to alphanumeric and fully
extended to market level.  The code will be introduced in 2003 in response to
significant market demand.

David Lester, the Exchange's Chief Information Officer, said:

"This new system will allow us to provide a unique global security identifier to
address market needs, and enable the Exchange to build on our position as a
provider of the established SEDOL standard.

"It is another example of the Exchange's capacity to develop the products and
services that an increasingly global market demands."

In today's interim results announcement, the Exchange said that Information
Services accounted for £50.7 million of its turnover in the first half of this
year.  Instrument numbering, together with the Corporate Data Warehouse
initiative announced yesterday, are part of Exchange's strategy to diversify the
range of commercial products and services it offers to its customers.


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About the London Stock Exchange:

The London Stock Exchange is one of the world's leading equity exchanges and a
leading provider of services that facilitate the raising of capital and the
trading of shares.

The London Stock Exchange is the most international equities exchange by trading
in the world and Europe's largest pool of liquidity.  By the end of 2001, the
market capitalisation of UK and international companies on its markets amounted
to £4.1 trillion, with over £5.6 trillion of business transacted over the year.

The London Stock Exchange is a Recognised Investment Exchange (RIE) under the
Financial Services and Markets Act 2000 and is supervised by the Financial
Services Authority.



                      This information is provided by RNS
            The company news service from the London Stock Exchange