Director Shareholding

London Stock Exchange Plc
21 May 2004

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1)Name of company

London Stock Exchange plc

2)Name of director

Jonathan Howell

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)

N/A

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

N/A


7) Number of shares/amount of stock acquired

N/A

8) Percentage of issued class

N/A

9) Number of shares/amount of stock disposed

N/A


10) Percentage of issued class

N/A

11) Class of security

N/A

12) Price per share


N/A

13) Date of transaction

N/A


14) Date company informed

N/A

15) Total holding following this notification

N/A

16) Total percentage holding of issued class following this notification

N/A

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

17) Date of grant

20 May 2004

18) Period during which or date on which exercisable

Exercisable from 20 May 2007

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

Nil

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

52,771 Ordinary shares of 5p each

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

52,771 at exercise price of £3.79

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

242,600 at exercise price of £2.37
179,700 at exercise price of £2.97
 12,350 at exercise price of £3.65
 47,436 at exercise price of £3.90
 61,920 at exercise price of £3.23
 52,771 at exercise price of £3.79

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, Company Secretary

Date of Notification 21 May 2004




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