Offer Update

London Stock Exchange
11 September 2000


RESPONSE TO POSTING OF OM GRUPPEN'S OFFER DOCUMENT

The Board of the London Stock Exchange plc ('LSE') notes today's announcement by
OM Gruppen regarding the posting of its offer document to LSE shareholders.

The Board, which is being advised by Schroder Salomon Smith Barney and Merrill
Lynch, will write to shareholders setting out detailed reasons for rejecting
OM's offer in due course.

The strategic rationale for the creation of iX-international exchanges is to
create a growth-oriented, cost-efficient market leader in European capital
markets.  A combination with OM achieves far less for LSE's customers and
shareholders.

Don Cruickshank, Chairman of LSE, said today:

'The terms of OM's offer are derisory and, more importantly, their business case
is deeply flawed. We have a vision of building a business that will keep the
Exchange at the centre of the European equity market. OM's proposal represents a
cul-de-sac for the UK market. The offer document provides nothing new for our
shareholders to consider.'

Press enquiries:

London Stock Exchange
Kay Dixon                                   020 7797 1222
Jeremy Hughes               

Schroder Salomon Smith Barney
Philip Robert-Tissot                        020 7986 4000

Merrill Lynch
Kevin Smith                                 020 7628 1000

Brunswick
Derek Bainbridge                            020 7404 5959
David Brewerton

Schroder Salomon Smith Barney and Merrill Lynch, which are regulated in the
United Kingdom by The Securities and Futures Authority Limited, are 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 their respective customers or for
providing advice in relation to the offer.