Director Shareholding

London Stock Exchange Plc
30 June 2004

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1)Name of company

London Stock Exchange plc

2)Name of director

Clara Furse, Jonathan Howell (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 264,191 ordinary shares in London Stock Exchange plc on 29 June 2004
by the Employee Benefit Trust ("the Trust") to participants in the London Stock
Exchange Annual and Initial Share Schemes established in 2001 ("the Schemes")
including Clara Furse and Jonathan Howell pursuant to an automatic vesting of
shares under the rules of the Schemes.

The directors named in paragraph 2 above 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 other than as set out below.  The Trust continues to
hold 1,820,967 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 264,191 ordinary shares released from the Trust 7,900 ordinary shares
were transferred to Clara Furse and Jonathan Howell following the automatic
vesting of their share awards pursuant to the rules of the Schemes.  Clara Furse
and Jonathan Howell have become unconditionally entitled to such ordinary shares
of London Stock Exchange plc, and are therefore regarded for Companies Act
purposes as becoming interested in such ordinary shares.

7) Number of shares/amount of stock acquired

Clara Furse - 1,720 shares
Jonathan Howell - 6,180 shares

8) Percentage of issued class

Clara Furse -   0.0006%
Jonathan Howell - 0.002%

9) Number of shares/amount of stock disposed

N/A

10) Percentage of issued class

N/A

11) Class of security

Ordinary shares of 5p each

12) Price per share


264,191 @ Nil consideration

13) Date of transaction

29 June 2004 - shares acquired

14) Date company informed

29 June 2004 - shares acquired

15) Total holding following this notification

Clara Furse - 366,746 shares of which 31,356 are held by the Trust

Jonathan Howell - 126,394 shares of which 18,644 are held by the Trust


16) Total percentage holding of issued class following this notification

Clara Furse 0.123% of which 0.01% are held by the Trust

Jonathan Howell 0.043% of which 0.006% are held by the Trust


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 30 June 2004


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