The Board of London Stock Exchange plc (“LSE”) announces that it has received a proposal from Deutsche Börse AG with a view to Deutsche Börse making an offer to acquire London Stock Exchange plc for 530p per share in cash.

The Board of LSE firmly believes that the proposal undervalues the Company and the substantial synergies that would be available from the combination of LSE with another major exchange group. Furthermore, the Board of LSE has been advised that there can be no assurance that any transaction could be successfully implemented. Accordingly, the Board of LSE has rejected the proposal.

The Board of LSE believes in the Company’s strong growth prospects as the largest equity market in Europe with a unique position in global capital markets. The Board of LSE is fully committed to continuing to deliver value to shareholders and customers as an independent group.

Nevertheless, LSE has agreed to hold discussions with Deutsche Börse to ascertain whether a significantly improved proposal that would be in the interests of LSE’s shareholders and customers and that would be capable of being implemented can be agreed.

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