Pre Close Period Update

London Stock Exchange Plc
27 March 2003


27 March 2003


PRE-CLOSE PERIOD UPDATE

London Stock Exchange plc


Unless otherwise stated, the following commentary refers to the 11 months ended
28 February 2003 and, where appropriate, to the corresponding period last year.


London Stock Exchange plc ("the Exchange") today issued a routine update ahead
of the close period relating to the year ending 31 March 2003.

The Exchange's trading performance has remained resilient during a period of
continued economic uncertainty and difficult conditions in financial markets.



Issuer Services

The total number of companies on the Exchange's markets was 2,804 (2002: 2,878)
at 28 February 2003.  There were 194 new issues on the Exchange's markets in the
period compared to 268 in the same period last year, underlining the continuing
weakness in the IPO market.



AIM, the Exchange's international market for younger enterprises, continued to
attract a growing number of companies.  At 28 February 2003, 703 companies were
traded on AIM (2002: 638).



Broker Services



The total number of equity bargains was 50 million, up 9 per cent on the same
period last year (2002: 46 million).  The total value of equity bargains traded
totalled £4.0 trillion (2002: £4.8 trillion)



The increase in average daily equity bargains from 199,000 to 213,000 primarily
reflects continued growth in volumes on SETS, the electronic order book.
Average daily SETS bargains increased 54 per cent to 106,000 (2002: 69,000).
Partly offsetting this increase was a decline in the average number of off-book
bargains to 51,000 bargains per day (2002: 60,000) and a reduction in
international bargains to 56,000 bargains per day (2002: 70,000).



Information Services



At 28 February 2003, the total number of terminals receiving Exchange data was
95,000 (2002: 105,000).  Approximately 88,000 terminals were attributable to the
professional user base, down on the previous year (2002: 96,000).



RNS, the Exchange's primary information distribution service, has performed
well, retaining market share and launching further news services.



Proquote



Proquote Limited, a supplier of financial market software and data services, was
acquired in February and is expected to make a marginal revenue contribution to
the Exchange's current financial year results.



EDX London



On 9 December 2002 the Exchange, in conjunction with OM AB, announced the
creation of EDX London, a new international equity derivatives business.
Development of this new business is underway and plans are on course for launch
by the end of the second calendar quarter 2003.





Commenting on current trading, Clara Furse, Chief Executive, said:



"The Exchange's businesses have performed well during a period of testing market
conditions.  Although the IPO market remains weak and declining terminal numbers
continue to affect the Information Services division, we continue to expect a
satisfactory result for the current year."



The London Stock Exchange expects to announce its preliminary results for the
year ending 31 March 2003 on 15 May 2003.



Further information is available from:


London Stock Exchange                 John Wallace - Media                         020 7797 1222
                                      Paul Froud - Investor Relations              020 7797 3322
Finsbury                              James Murgatroyd / Melanie Gerlis            020 7251 3801




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