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Deutsche Börse Comments On UK Competition Commission Provisional Findings

Date 29/07/2005

Deutsche Börse has welcomed the provisional findings relating to a possible offer for the London Stock Exchange issued by the Competition Commission and in particular the fact that the position of Deutsche Börse and Euronext from a competition law perspective is considered identical.

Deutsche Börse sees itself in a favourable position with regard to potential remedies suggested by the Commission: The Commission’s concerns are solely related to clearing services for UK equities. LCH.Clearnet provides such services for the LSE with Euronext being the largest shareholder of LCH.Clearnet. Deutsche Börse does not provide clearing services for the London market. Therefore, a discontinuation of clearing activities in general, an option mentioned by the Commission for both parties, is not an issue for Deutsche Börse.