Stock Exch Notice - N04/12 - MF Global UK Limited - In Default

Hammer prices

Further to Stock Exchange Notice N24/11, this Notice provides notification that further hammer prices (as defined in the Rules of the London Stock Exchange (LSE: LSE.L - news) ) have been added to the existing list, Version 3 issued on 6 December 2011. Version 4 (Hammer Prices - MF Global V4 02-02-12) is now available as an Excel (Berlin: EZ3.BE - news) spreadsheet on our website:

http://www.londonstockexchange.com/traders-and-brokers/rules-regulations/default-information/mf-global/hammer/hammer.htm

The London Stock Exchange ("the Exchange") will add further hammer prices to this list as required and will issue a Stock Exchange Notice to communicate that a new version of the list is available. Member firms will be able to identify the latest version by way of the version number and date of the Excel spreadsheet. All versions of the hammer price list will remain available on the website. The Exchange will highlight which securities have been added by including a "Date Added" column in the hammer price spreadsheet.

Any objection to a hammer price must be lodged with the Default Official, in writing, within five (business) days of the date of notification (i.e. the date on which the given hammer price was added to the list). Any objection should include the grounds and the basis for any alternative price proposed. Further details of the fixing of hammer prices on declaration of default are set out in paragraphs D130 - 132 of the rules. If the objection is rejected, the Exchange will inform the objector that the price remains unchanged. If the objection is sustained, the Exchange will communicate to all member firms, by way of a Stock Exchange Notice, the revised hammer price and a list of revised hammer prices will be provided.

Default Official

The Exchange has appointed a new Default Official, Denzil Jenkins, who will act as Default Official for MF Global UK Limited ("MF Global") and Lehman Brothers International (Europe (Chicago Options: ^REURUSD - news) ) Limited.

Current status of default

The Exchange is currently nearing the end of its data collection phase; it has commenced the reconciliation of unsettled trade data and has begun to issue Initial Determinations. Member firms and non member firms can monitor the current status of the default on the Exchange's website at

http://www.londonstockexchange.com/traders-and-brokers/rules-regulations/default-information/mf-global/current-status/current-status.htm.

Final date for submissions

Any member firm or non member firm which has not yet notified the Exchange of any unsettled on Exchange non-CCP (Xetra: A0H1P2 - news) transactions which it believes it had with MF Global at the time of default, must do so as soon as possible and, in any event, by close of business on Thursday 23 February 2012. Notifications received after this date may not be considered in the default processing. Notifications of unsettled trades should be made to the Default Official in accordance with the instructions given on the Exchange's website at:

http://www.londonstockexchange.com/traders-and-brokers/rules-regulations/default-information/mf-global/mf-global-default.htm

Any queries on this Notice should be addressed to either:

Jeannette Cowan, telephone +44 (0)20 7797 2087 (STX (KSE: 011810.KS - news) 32087) or email:

jcowan@londonstockexchange.com

Dagmar Banton, telephone +44 (0)20 7797 1210 (STX 31210) or email:

dbanton@londonstockexchange.com