Notice N44/99

LONDON STOCK EXCHANGE
22 July 1999       


For the attention of the
chairman/senior partner/compliance officer,
all member firms                                                      N44/99

STOCK EXCHANGE NOTICE

CONFIRMATION OF PROPOSED RULE AMENDMENTS

STOCK EXCHANGE RULES AND CREST MARKET NORMS

1. Stock Exchange Notice N34/99, issued on 16 June 1999, informed member firms
of the Exchange's proposal to amend a number of its rules in relation to
corporate actions in order to bring them into line with CREST's daily
processing timetable.  Additionally, a number of new rules were proposed to
provide guidance in corporate action situations not already covered by
existing rules.

2. The consultation period on the proposed rule amendments has now closed. 
Accordingly, the proposed changes, as set out in the attachment to this
Notice, will become effective from the start of business on Monday 2 August
1999.  Hole punched pages for inclusion in the rule book will be issued
shortly.

A E Scott-Bishop
Head of Regulatory Development

Any queries relating to this Notice should be addressed to the Market
Regulation department, telephone [phone] (STX 31210).