Response To LSE Trading Statement - Final Cash Offers By Nightingale Acquisition Limited (A Wholly Owned Subsidiary Of The Nasdaq Stock Market, Inc.) For The Entire Issued And To Be Issued Share Capital Of London Stock Exchange Group Plc

The Board of The Nasdaq Stock Market, Inc. ("NASDAQ") notes the trading statement announced by London Stock Exchange Group plc ("LSE") earlier today.

As NASDAQ anticipated in the Response Document published yesterday, the LSE value case continues to be based entirely on current and historical financial performance. These results are in line with earlier press reports and statements by LSE, and take no account of the impact that growing customer dissatisfaction, the new competitive threats introduced by upcoming regulatory changes, or accelerating consolidation will have on LSE's future financial performance.

The NASDAQ Board firmly believes that its Ordinary Offer of 1,243 pence per LSE Ordinary Share is a full and fair price.

LSE Shareholders are urged to accept the Final Offers as you, rather than the LSE Board, will determine whether the Final Offers will be implemented.

Copies of the Response Document, the Offer Document and Forms of Acceptance are available for collection (during normal business hours only) from Capita Registrars, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU, United Kingdom and Greenhill & Co. International LLP at Lansdowne House, 57 Berkeley Square, London W1J 6ER, United Kingdom. The Offer Document and the Response Document are also available on www.nasdaq.com.

Note: The Final Offers will not be revised except that NAL reserves the right to revise the Final Offers: (i) upon the recommendation of the LSE Board; or (ii) if a firm intention to make a competing offer for LSE is announced, whether or not subject to any preconditions.

Save as defined above, capitalised terms used in this announcement have the same meaning as in the Offer Document dated 12 December 2006.