RNS Number:4933J
London Bridge Software Holdings PLC
01 April 2003


1 April 2003

London Bridge Software Holdings plc ("London Bridge" or the "Company")

Authority for share buy-back and Notice of Annual General Meeting


London Bridge announces that it has sent a circular to shareholders today, in
relation to its Annual General Meeting. In addition to the ordinary business of
the meeting, approval will also be sought from shareholders of two waivers which
the Panel on Takeovers and Mergers (the "Panel") has agreed to give (subject to
such approval), in relation to the shareholding of the Chairman of London
Bridge, Gordon Crawford. Mr Crawford, together with his wife, currently holds
78,343,700 ordinary shares of 1 penny each ("Ordinary Shares") in the Company,
representing 45.8 per cent. of the issued share capital of the Company. In
addition, Mr Crawford was granted an option over 750,000 Ordinary Shares (the
"Option") on 14 March 2003, which is subject to independent shareholder approval
on a poll at the Annual General Meeting.

The waivers have been sought from the Panel to dispense with the obligation
which could otherwise arise under Rule 9 of the City Code on Takeovers and
Mergers (the "City Code") for Mr Crawford and his wife to make a cash offer to
all remaining shareholders in the Company to acquire their shares. The
compulsory bid obligation under Rule 9 of the City Code would arise in the
following circumstances:

 a. if the Company were to use its authority to purchase Ordinary Shares,
    representing up to approximately 10 per cent. of the issued share capital of
    the Company (whether or not Mr Crawford exercised the Option) and no
    disposal of Ordinary Shares by Mr Crawford or his wife took place, and no
    other options or rights to subscribe for shares in the Company were
    exercised or taken up; or

 b. if the Option was exercised (whether or not the Company used its authority to
    purchase Ordinary Shares) , and no disposal of Ordinary Shares by Mr
    Crawford or his wife took place and no other options or rights to subscribe
    for shares in the Company were exercised or taken up.

The Panel has agreed to waive the compulsory bid obligation under Rule 9 of the
City Code arising in respect of a repurchase of Ordinary Shares by the Company
or the exercise of the Option, subject in each case to approval on a poll by the
Company's independent shareholders. In the event that approval of the waiver in
respect of exercise of the Option is not given, the Option will lapse.

The Company is also seeking to renew the Company's power to purchase up to
approximately 10 per cent. of the issued share capital of the Company and to
amend its Articles of Association to provide for electronic proxy appointments
through CREST.

The Annual General Meeting of London Bridge will be held on 24 April 2003 at
9.00 a.m. at the Company's head office, 16th floor, New London Bridge House, 25
London Bridge Street, London SE1 9SG.


For further information, please contact:
London Bridge Software Holdings plc                   Tel: +44 (0)20 7403 1333
Gordon Stuart
Group Finance Director

Buchanan Communications                               Tel: +44 (0)20 7466 5000
Tim Thompson


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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