Offer Update

London Stock Exchange
3 October 2000




                                                                3 October 2000

                                                                         19/00

                          London Stock Exchange plc

                Negligible acceptances for OM Gruppen's offer



The Board of London Stock Exchange plc notes the announcement by OM Gruppen AB
('OM') today that its offer for the Company has received acceptances in
respect of only 300,000 shares, representing approximately 1.0 per cent. of
the London Stock Exchange's issued share capital.

Don Cruickshank, Chairman of the London Stock Exchange, said today:

'This negligible level of acceptances for OM's offer endorses the Board's view
that OM is offering wholly inadequate value to the London Stock Exchange's
shareholders and no proven benefits for customers.

'The London Stock Exchange's strategy will be implemented only after a full
consultation process with shareholders and customers. It is not practicable
for us to conclude this process during OM's bid timetable when our efforts are
rightly focused on seeing off OM's opportunistic offer.

'As we have made clear, the London Stock Exchange is not up for sale. Our
strategy may involve doing deals but it does not necessarily have to. That is
our consistent message to all those who have an interest in our future
ownership.

'By dismissing OM and engaging in a full consultation process, London Stock
Exchange's shareholders and customers will have real influence over our future
development.

'In the meantime, we advise our shareholders to continue to reject OM's
offer.'



PRESS ENQUIRIES

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.