Macquarie Bank Ltd Notification Regarding London Stock Exchange

On November 23, Macquarie Bank Limited ("Macquarie") confirmed that it maintained its interest in a possible consortium offer for the London Stock Exchange plc ("LSE"). As part of its due diligence evaluation, Macquarie has today requested from the LSE the information available to it under Rule 20.2 of the City Code on Takeovers and Mergers.

Macquarie also today approached the Board of the LSE seeking to engage it in discussions regarding a possible offer for all of the outstanding shares of the LSE. Macquarie indicated that it could be prepared to offer 580 pence per LSE share in cash subject to certain conditions, including review of the due diligence information requested.

Since Macquarie first confirmed its potential interest on August 15, constant speculation has continued to support the LSE's share price substantially above any level justified by the fundamental outlook for the LSE's business.

In evaluating any potential cash offer for the LSE, Macquarie will take a disciplined approach to valuation, while considering the views of the Board and shareholders of the LSE as well as other key stakeholders in the London Market.

There can be no assurance that any offer will be made prior to 5.00pm on 15 December 2005. A further announcement will be made if and when appropriate.