Trading Statement

London Stock Exchange Plc
24 March 2005

24 March 2005



                             PRE-CLOSE PERIOD UPDATE
                            London Stock Exchange plc

Unless otherwise stated, the following commentary refers to the 11 months ended
28 February 2005 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 2005.

Issuer Services

Issuer Services enjoyed a period of strong growth, helped by a good start to the
2005 calendar year on both the main market and on AIM.  In total there were 436
new issues in the 11 months to 28 February 2005, more than double the level of
activity seen in the corresponding period last year (197).  This increase in
part reflects a good pick up in main market new issues, rising to 73 from 38,
including 12 international new issues, twice the level of the previous period.

AIM - the Exchange's international market for smaller, growing companies - also
saw a significant uplift in companies joining the market, with 363 new issues
(2004: 159).  At 28 February 2005, the total number of companies on the
Exchange's markets increased to 2,865 (2004: 2,673) of which 1,065 companies
were traded on AIM (2004: 761).

Broker Services

The value of equity bargains traded during the first 11 months of the financial
year increased 19 per cent, totalling £4.3 trillion (2004: £3.6 trillion).
Trading volumes also continued to show good growth, rising 15 per cent on the
same period last year, with a total number of 61 million equity bargains (2004:
53 million).

The average number of equity bargains per day increased to 266,000 (2004:
230,000) and in February average daily trades reached more 300,000 for the first
time.  The increase was mainly attributable to continued growth in volumes on
SETS, the electronic order book.  The average number of SETS bargains per day,
including SETSmm, the Exchange's hybrid trading service, increased 25 per cent
to 167,000 (2004: 134,000), following record average daily trading volumes in
January and again in February (197,000 bargains/day).  The average value of a
SETS bargain fell 5 per cent to £21,000 from £22,000.

The average number of off-book bargains was 48,000 per day (2004: 57,000) and
the average number of international bargains was 51,000 per day (2004: 39,000).

Derivatives Services

Following a pick up in trading volumes in February, a total of 17.1 million
contracts were traded on EDX during the first 11 months of the year (8 months
from acquisition to 29 February 2004: 11.7 million), although trading in Q4 so
far is not as strong as the busy corresponding period last year.

Information Services

At 28 February 2005, the total number of terminals receiving Exchange data was
94,000, a 4,000 increase over the same point last year (29 Feb 2004: 90,000).
Of the total, approximately 83,000 terminals were attributable to the
professional user base, an increase of 1,000 on the number at the end of 2004
when professional terminal numbers rose for the first time in over three years
(31 Dec 2004: 82,000; 29 Feb 2004: 80,000).

Proquote continues to grow with over 2,600 screens and 175 corporate customers
(29 Feb 2004: 1,700 screens).

SEDOL Masterfile, the Exchange's securities numbering service, which provides
unique identification for securities on a global basis, continues to make good
progress, with approximately 990 company contracts for SEDOL licences signed to
date.

RNS, the Exchange's provider of financial communication tools and services,
maintained a leading market share, with over 90 companies in the FTSE 100 using
RNS to release regulatory announcements.

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

"We are encouraged by the positive market trends we have seen, particularly with
the uplift in the latter part of the financial year.

"The marked increase in new issues on both the main market and AIM, the strong
growth in trading volumes and the pick up in professional terminals demonstrate
good momentum in our core business areas.  This, together with close cost
management, leads us to expect a good outcome for the full year."

Further information is available from:

London Stock Exchange       Catherine Mattison - Media            020 7797 1222
                            Paul Froud - Investor Relations       020 7797 3322
                            Lyndal Kennedy - Investor Relations   020 7797 3322




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