Update In Relation To The Recommended Offer For The Acquisition Of LME Holdings Limited By Hong Kong Exchanges And Clearing Limited - FSA Approval Received

On 15 June 2012, the board of LME Holdings Limited (“LME Holdings”), the parent company of The London Metal Exchange Limited (“LME Limited”), announced that LME Holdings, HK Investment (UK) Limited (“HKEx Investment”) and Hong Kong Exchanges and Clearing Limited (“HKEx”) had entered into a framework agreement regarding the terms of a recommended cash offer (the “Offer”) for the entire issued and outstanding ordinary share capital of LME Holdings by HKEx Investment, an indirect wholly-owned subsidiary of HKEx (the “Transaction”).

On 25 July 2012, the board of LME Holdings announced that the ordinary shareholders of LME Holdings had approved, at a court meeting and an extraordinary general meeting of LME Holdings, all the resolutions required in connection with the Transaction.

The board of directors of LME Holdings are pleased to announce that the Financial Services Authority has given notice in writing under section 301G(3) of the Financial Services and Markets Act 2000 of its approval in respect of HKEx acquiring control over LME Limited through its indirect subsidiary, HKEx Investment, such that condition 1(a) contained in Part III of the scheme document relating to the Transaction dated 9 July 2012 (the "Scheme Document") has been satisfied.

As the completion of the Transaction remains subject to the satisfaction of the remaining conditions to the Transaction as set out in the Scheme Document, including, inter alia, the sanction of the Scheme by the Court, there can be no certainty that such conditions will be satisfied. The hearing of the petition to the Court to sanction the Scheme and to confirm the
related capital reduction is expected to take place on 5 December 2012.

If such conditions are satisfied, the Transaction is expected to become effective on or around 6 December 2012. If the Scheme has not become unconditional and effective by the Longstop Date, the Scheme will lapse and the Framework Agreement may be terminated, in which case the Acquisition will not proceed.

Any capitalised term used but not defined in this announcement has the same meaning given to it in the Scheme Document.