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Michael March - Director, Corporate Communications
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LCH.Clearnet Reduces Clearing Fees for London Metal Exchange Contracts

London, 24 September 2007

LCH.Clearnet Limited is very pleased to announce that it will be reducing its clearing fees for contracts executed on London Metal Exchange by an average of 15% with effect from 1 January 2008.

LCH.Clearnet has been engaged upon a rigorous programme, commenced in November 2006, of clearing fee reduction across its business segments generally. Reductions to date have encompassed cash markets, financial and equity derivatives markets, and energy markets. The reductions announced today are the first for trades executed on London Metal Exchange, the world’s premier non-ferrous metals market, and mean that clearing fee reductions have now been or are being brought into effect for the full range of exchange markets cleared by LCH.Clearnet.

Precise details of the revised tariff are being finalised and will be published in the near future.

Roger Liddell, Group Chief Executive at LCH.Clearnet, said: “I am very pleased to see this extension of our clearing fee reduction programme encompassing business executed by our members on London Metal Exchange, the final exchange market cleared by LCH.Clearnet to benefit from the programme. But this is by no means the end of our fee reduction programme; we are determined to continue our drive to lower clearing fees for our members whilst maintaining high quality clearing services, and we will be announcing further cuts in other asset classes in the near future.”

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Note to Editors

LCH.Clearnet is currently owned 67.6% by users, 17.8% by exchanges with the balance of 14.6% being held by Euroclear. Upon completion of the Euronext share buy-back programme by 2009, the Group will be owned 73.3% by users, 10.9% by exchanges and 15.8% by Euroclear.

LCH.Clearnet is committed to operating under strict principles of non-discrimination across its user base. LCH.Clearnet serves major international exchanges and platforms, equity, exchange-traded derivatives, energy, interbank interest rate swaps markets and the majority of the Euro-denominated and sterling bond and repo markets.

Markets Served

LCH.Clearnet clears a diverse range of asset classes worldwide.

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