Rule 8 Disclosure

London Stock Exchange
23 August 2000


Date of disclosure 23 August 2000

DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) AND 8.3 OF THE CITY CODE ON TAKEOVERS
AND MERGERS

Date of dealing 18 August 2000.

Dealing in       London Stock Exchange PLC (Name of company)

(1) Class of securities (e.g. ordinary shares) ORDINARY

(2) Amount bought          Amount sold                 Price per unit
         600                   0                            23.80
       5,000                   0                            24.05
      20,000                   0                            24.05             
      20,000                   0                            24.05
      

(3) Resultant total of the same class owned or controlled (and percentage of
class)      495,600  (1.67 % ) 


(4)  Party making disclosure        UBS WARBURG

(5) EITHER (a) Name of purchaser/vendor (Note 1)        UBS WARBURG
OR         (b) If dealing for discretionary client(s), name of fund 
               management organisation


(6) Reason for disclosure (Note 2)
(a) associate of     (i) offeror (Note 3)                               NO
                     (ii)offeree company                                NO

     Specify which category or categories of associate (1- 8 overleaf)

      If category (8), explain
    


(b) Rule 8.3 (i.e. disclosure because of ownership or control of 1% or more of
the class or relevant securities dealt in)                              YES

Signed, for and on behalf of the party named in (4) above 



(Also print names of signatory)   MARK GOULDEN            KAREN HALES

Telephone and extension number 020-7568 5846



Note 1.       Specify owner, not nominee or vehicle company.  If relevant,
also identify controller of owner, e.g. where an owner normally acts on
instructions of a controller.

Note 2.        Disclosure might be made for more than one reason; if so, state
all reasons

Note 3.       Specify which offeror if there is more than one.

Note 4. When an arrangement exists with any offeror, with the offeree company
or with an associate of any offeror or of the offeree company in relation to
relevant securities, details of such arrangement must be disclosed, as
required  Note 6 on Rule 8 


For full details of disclosure requirements, see Rule 8 of the Code.  If in
doubt, contact the Panel on Takeovers and Mergers.  Tel No: 020-7382 9026