Disposal of Tower Site

London Stock Exchange Plc
02 April 2004

2 April 2004



      LONDON STOCK EXCHANGE PLC AGREES DISPOSAL OF TOWER TO HAMMERSON PLC



London Stock Exchange plc has today announced that Hammerson plc has agreed to
acquire the Stock Exchange Tower site (the "Tower").  Total consideration to the
London Stock Exchange for the Tower is £67.0 million with completion expected in
July 2004.



The consideration will comprise an initial instalment of £33.8 million, payable
on completion (including a £3.4 million deposit payable immediately), and an
unconditional deferred payment of £33.2 million on 31 December 2005.  In
addition, the terms provide for a potential further payment to the London Stock
Exchange of up to £6 million by December 2009, based on the profitability of any
redevelopment.



After costs relating to the transaction and discounting proceeds, the London
Stock Exchange's expected profit is a minimum of £5 million, based on an
estimated book value at the time of completion of £56 million.  The net profit
is expected to be recognised in the 2004/05 accounts.  Proceeds from the
transaction will be used for general corporate purposes.



The London Stock Exchange's move to its new headquarters at 10 Paternoster
Square is on schedule to complete in June 2004.  Of the 220,000 sq ft of total
space at the new building, 80,000 sq ft is currently available for sub-letting,
32,000 sq ft of which is already contracted/under offer to sub-tenants.
Interest in the remaining available space is encouraging and is expected to
increase further following completion of the fit-out work and the London Stock
Exchange's occupation of the building.



Further information is available from:


London Stock Exchange     John Wallace - Media                     020 7797 1222
                          Paul Froud - Investor Relations          020 7797 3322
                          Ruth Anagnos - Investor Relations        020 7797 3322
Finsbury                  James Murgatroyd                         020 7251 3801
                          Melanie Gerlis                           020 7251 3801








                      This information is provided by RNS
            The company news service from the London Stock Exchange