Offer Update

London Stock Exchange
13 October 2000



                                                               13 October 2000

                                                                         22/00







                     LSE BOARD CONTINUES TO REJECT OM BID



The Board of the London Stock Exchange plc has considered the increased bid
from OM Gruppen. The Board believes that OM's revised offer continues to
represent inadequate value for shareholders and offers no proven benefits for
customers. It urges shareholders to reject the offer from OM.

Don Cruickshank, Chairman of London Stock Exchange plc, said: 'During recent
weeks, the OM share price has dropped by more than 20 per cent. In the
meanwhile, OM has failed to address the serious concerns we have raised about
their technology, financial track record and ownership control and governance.

'OM's suggestion that London Stock Exchange has sought to stifle debate on the
4.9 per cent shareholding limit is absurd. We have called an EGM for Thursday
19 October specifically to allow our shareholders to consider this issue.

'The revised OM offer provides London Stock Exchange shareholders with a
choice between two unattractive alternatives: either even more shares of
uncertain value or cash and even less influence. We will be writing to
shareholders in due course with our further reasons for rejecting this bid.'

                                    (ends)





For further information

London Stock Exchange

Kay Dixon                              020 7797 1222

Jeremy Hughes

Schroder Salomon Smith Barney

Philip Robert-Tissot                   020 7986 4000

Brunswick

Derek Bainbridge                       020 7404 5959

David Brewerton

Schroder Salomon Smith Barney, which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting for London Stock Exchange
plc and no one else in connection with the offer by OM and will not be
responsible to anyone other than London Stock Exchange plc for providing the
protections afforded to its customers or for providing advice in relation to
the offer by OM. Schroder Salomon Smith Barney has approved this press release
for the purposes of Section 57 of the Financial Services Act 1986.