Statement From IPE

On 10 January 2001, IPE announced that it had for some time been conducting a technology review with a view to securing for the Exchange a world-class electronic trading capability. As part of this process IPE had been evaluating technology providers and exploring the nature of the long-term relationships with those providers. Such a relationship could include a technology services agreement and, possibly, an offer for the shares in IPE Holdings plc.

IPE is now embarking on a consultation with its shareholders about these issues. As a consequence the matched dealing service in the shares of IPE Holdings plc, which is provided by Charterhouse Securities Ltd, will be suspended until further notice.

These proposals are not related to the statement made by the New York Mercantile Exchange on 12 January, 2001 as a result of which an offer period commenced, as defined by the City Code on Takeovers and Mergers.