Notification regarding the London Stock Exchange

In accordance with the provisions of the City Code on Takeovers and Mergers in the UK (the "City Code"), The Macquarie Group and its specialist listed and unlisted funds ("Macquarie") note the recent press speculation surrounding a potential bid for the London Stock Exchange Plc. Macquarie, as is always the case, is considering a number of potential acquisition opportunities which includes a possible formal approach being made to the London Stock Exchange Plc. However, Macquarie's deliberations are at the most preliminary of stages and, therefore, there is no guarantee that any such deliberations will lead to a formal approach and/or offer being made for the London Stock Exchange Plc. If any bid were made, it would be as part of a consortium and if any such offer is made it is likely to be solely in cash.

Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the City Code, any person who, alone or acting together with any other person(s) pursuant to an agreement or understanding (whether formal or informal) to acquire or control relevant securities of the London Stock Exchange Plc, owns or controls, or becomes the owner or controller, directly or indirectly, of one per cent. or more of any class of securities of the London Stock Exchange Plc is required to disclose, by not later than 12.00 noon (London time) on the London business day following the date of the relevant transaction, dealings in such securities of that company (or in any option in respect of, or derivative referenced to, any such securities) during the period to the date on which the offer becomes or is declared unconditional as to acceptances or lapses or is otherwise withdrawn.

Under the provisions of Rule 8.1 of the City Code, all dealings in relevant securities of the London Stock Exchange Plc by Macquarie or the London Stock Exchange Plc, or by any of their respective "associates" (within the meaning of the City Code) must also be disclosed.

If you are in any doubt as to the application of Rule 8, to you, please contact an independent financial adviser authorised under the Financial Services and Markets Act 2000, consult the Panel's website at www.thetakeoverpanel.org.uk or contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013.