Notice N45/99

LONDON STOCK EXCHANGE
30 July 1999


For the attention of the
chairman/senior partner/compliance officer,
all member firms                                               N45/99

STOCK EXCHANGE NOTICE

DOMESTIC EQUITY MARKET
WHEN ISSUED DEALING
THE EXCHANGE HOLDINGS PLC

1.   Listing particulars have been filed in relation to The eXchange Holdings
plc offer of ordinary shares (GB0007455834).  When issued dealing will be
permitted under rule 2.3(e) in the ordinary shares of The eXchange Holdings
plc.

2.   The timetable for when issued dealing is as follows:

     When issued dealing commences         - 9.00am Friday 6 August 1999

     Expected time for listing and 
     commencement of unconditional dealing - 9.00am Friday 13 August 1999

3.   Settlement of when issued transactions:
       
     Earliest settlement date              - Friday 13 August 1999

     Recommended settlement date for 
     certificated sellers                  - Friday 20 August 1999

4.   It is expected that, where applicable, the posting of definitive share
certificates will commence on or around 13 August 1999.  

5.   All transaction reports for when issued dealings must be submitted to
CREST.

6.   The offer may be subject to stabilisation.  If so, a stabilisation notice
will be issued in due course.


A E Scott-Bishop
Head of Regulatory Development

Any comments on this notice should be addressed to the Market Regulation
department, telephone [phone] (STX 31360).