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LCH.Clearnet SA reduces cash equity clearing fees by a further 25%

London, 20 December 2007

LCH.Clearnet SA is pleased to announce a further reduction in clearing fees for trades executed on NYSE Euronext cash markets in Amsterdam, Brussels, Lisbon and Paris, and on the London Stock Exchange Dutch Trading Service. It will also apply to clearing fees to be charged in respect of trades executed on the Luxembourg Stock Exchange. The reductions will amount to an average of 25%, taking the average clearing fee to €0.23, and will come into effect from 1 April 2008.

This reduction is the third clearing fee reduction introduced by LCH.Clearnet SA since 1 January 2007. Reductions have amounted to averages of 15% at the beginning of 2007, 35% with effect from 1 October 2007, and now an additional 25% from 1 April 2008, making a major contribution to savings in members’ overall operating costs.

Details of the revised tariff structure are being finalised and will be issued in due course.

Commenting on the changes, Christophe Hémon, Chief Executive at LCH.Clearnet SA, said: “We are delighted to be able to announce these further clearing fee reductions, which reflect our determination to deliver high quality low cost clearing services across all the markets that we serve.”

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About LCH.Clearnet

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.