Director Shareholding

London Stock Exchange Plc
02 April 2003


                              SCHEDULE 11

        NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1)Name of company

London Stock Exchange plc

2)Name of director

Don Cruickshank, Clara Furse, Jonathan Howell, Martin Wheatley (however please
see paragraph 6 below).

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a non-
beneficial interest or in the case of an individual holder if it is a holding
of that person's spouse or children under the age of 18 or in respect of a
non-beneficial interest

N/A

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them (if notified)

Mourant & Co. Trustees Limited as trustees of the London Stock Exchange
Employee Benefit Trust of which the said directors are potential
beneficiaries.

5) Please state whether notification relates to a person(s) connected
with the Director named in 2 above and identify the connected person(s)

N/A

6) Please state the nature of the transaction. For PEP transactions
please indicate whether general/single co PEP and if discretionary/non
discretionary

Release of 84,157 ordinary shares in London Stock Exchange plc by the Employee
Benefit Trust ("the Trust") to participants in the London Stock Exchange
Deferred Bonus Scheme following vesting of conditional share awards.  The said
directors are amongst the potential beneficiaries of the Trust and are regarded
for Companies Act purposes as ceasing to be interested in the ordinary shares in
London Stock Exchange plc which have been released from the Trust.  The Trust
continues to hold 4,828,381 ordinary shares in London Stock Exchange plc which
are held for the benefit of other employees of London Stock Exchange plc as well
as the said directors, who are regarded for Companies Act purposes as remaining
interested in all the London Stock Exchange plc ordinary shares held by the
Trust.  Despite the technical interest in the shares, a director will only be
entitled to receive that number of shares to which he or she would be entitled
on exercise of an award or option which has been granted to him or her.  Of the
84,157 ordinary shares released from the Trust, 48,371 ordinary shares were
transferred to Clara Furse, Jonathan Howell and Martin Wheatley for no
consideration, following the vesting of conditional share awards granted to them
on 15 July 2002 under the London Stock Exchange Share Award Scheme.

7) Number of shares/amount of stock acquired

Clara Furse 20,397
Jonathan Howell 16,318
Martin Wheatley - 11,656

8) Percentage of issued class

Clara Furse - 0.007%
Jonathan Howell - 0.005%
Martin Wheatley - 0.004%

9) Number of shares/amount of stock disposed

See paragraph 6

10) Percentage of issued class

0.028%

11) Class of security

Ordinary shares of 5p each

12) Price per share

nil consideration

13) Date of transaction

01 April 2003

14) Date company informed

02 April 2003

15) Total holding following this notification

Clara Furse - 325,253 shares (of which 103,136 are unvested and held by the
Trust)

Martin Wheatley - 137,211 shares (of which 101,195 are unvested and held by the
Trust)

Jonathan Howell - 131,075 shares (of which 96,077 are unvested and held by the
Trust)

16) Total percentage holding of issued class following this notification

Clara Furse 0.110% of which 0.035% are held by the share trustee
Martin Wheatley 0.046% of which 0.034% are held by the share trustee
Jonathan Howell 0.044% of which 0.032% are held by the share trustee

If a director has been granted options by the company please complete the
following boxes

17) Date of grant

N/A

18) Period during which or date on which exercisable

N/A

19) Total amount paid (if any) for grant of the option

N/A

20) Description of shares or debentures involved: class, number

N/A

21) Exercise price (if fixed at time of grant) or indication that price
is to be fixed at time of exercise

N/A

22) Total number of shares or debentures over which options held
following this notification

N/A

23) Any additional information

N/A

24) Name of contact and telephone number for queries

Lisa Condron, Company Secretary Tel: [phone]

25) Name and signature of authorised company official responsible for
making this notification

Lisa Condron

Date of Notification 2 April 2003


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