RNS Number:1715P
Cantor Fitzgerald Europe
29 August 2003

                                                                    FORM 8.1/8.3

Lodge with a RIS or Newstrack and the Takeover Panel. Use separate form for each
class of securities in which dealings have been made.

                                      Date of disclosure     29/08/03...........

DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) AND 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS

Date of dealing     28/08/03..................................

Dealing in      London Forfaiting Company Plc................(name of company)

(1)     Class of securities (eg ordinary shares)      ordinary shares.........

(2)     Amount bought            Amount sold                  Price per unit


In addition, Cantor Fitzgerald Europe (and affiliates) have undertaken certain
CFD and Spreadbet transactions(see below).

(3)     Resultant total of the same class owned or controlled
       (and percentage of class)     3,150,000 shares* ( 3.01%)

 4. Party making disclosure      Cantor Fitzgerald Europe.......................

(5)     EITHER     (a)     Name of purchaser/vendor (Note 1) Cantor Fitzgerald
                           Europe........................

        OR         (b)     If dealing for discretionary client(s), name of fund
                           management organisation

     .........................................................................

(6)     Reason for disclosure (Note 2)

     (a)     associate of     (i)     offeror (Note 3)     NO
                              (ii)    offeree company      NO

     Specify which category or categories of associate (1-8 overleaf) ..........

     If category (8), explain ................................................

     .........................................................................

     (b)     Rule 8.3 (ie disclosure because of ownership or control of 1% or
             more of the class of relevant securities dealt in)       YES

Signed, for and on behalf of the party named in (4) above .....................

(Also print name of signatory)     Simon Rogers...................

Telephone and extension number     020 7894 7854..............................

                     ______________________________________

*In addition, Cantor Fitzgerald Europe(and affiliates) are party to certain CFDs
and Spreadbets (see below)


        Note 1.     Specify owner, not nominee or vehicle company. If relevant,
        also identify controller of owner, eg where an owner normally acts on
        instructions of a controller.

        Note 2.     Disclosure might be made for more than one reason; if so,
        state all reasons.

        Note 3.     Specify which offeror if there is more than one.

        Note 4.     When an arrangement exists with any offeror, with the
        offeree company or with an associate of any offeror or of the offeree
        company in relation to relevant securities, details of such arrangement
        must be disclosed, as required by Note 6 on Rule 8.

        Note 5.     It may be necessary, particularly when disclosing derivative
        transactions, to append a sheet to this disclosure form so that all
        relevant information can be given.

        Note 6.     In the case of an average price bargain, each underlying
        trade should be disclosed.

For full details of disclosure requirements, see Rule 8 of the Code. If in
doubt, contact the Panel on Takeovers and Mergers, Monitoring Section, Tel. No:
020 7638 0129. E-mail:monitoring@disclosure.org.uk



                                             Date of Disclosure: August 29, 2003

Form 8 Enclosure

Cantor Fitzgerald Europe is the beneficial owner of 3,150,000 London Forfaiting
Company PLC ordinary shares. 3,150,000 of these shares are held to hedge
Contract for Differences ("CFD") positions for clients.

A Long CFD is a product where the client to whom the product is sold is taking a
long economic interest in the underlying share price such that the client can
realise a gain if the price of the underlying securities rises above the
reference price.

A purchaser of a CFD contract will realise a gain if the price of the underlying
security goes up. A seller of a CFD contract will realise a gain if the price of
the underlying security goes down.

There are no written or oral agreements between Cantor Fitzgerald Europe and any
clients concerning the control of voting rights in relation to the underlying
shares used to hedge the CFDs.

The CFD contracts are open-ended and there is no rollover into new contracts


Contracts for Differences                                                Date of Disclosure: 29-Aug-03
London Forfaiting Company Plc                              Cantor                                  Reference
                                                         Fitzgerald             Underlying Number    Price
Product Name                            Date Executed     Buy/Sell                 Of Shares        (pence)
London Forfaiting Company Plc, Long CFD    July 24, 2003    Sell                     550,000       29.3409
London Forfaiting Company Plc, Long CFD    July 25, 2003    Sell                     125,000          29.5
London Forfaiting Company Plc, Long CFD    July 25, 2003    Sell                     275,000          29.5
London Forfaiting Company Plc, Long CFD    July 28, 2003    Sell                     200,000          29.5
London Forfaiting Company Plc, Long CFD    July 29, 2003    Sell                     450,000          29.5
London Forfaiting Company Plc, Long CFD    July 30, 2003    Sell                      50,000          29.5
London Forfaiting Company Plc, Long CFD  August 28, 2003    Sell                   1,500,000         29.75
                                                                                   3,150,000
CFDs Closed out
28-Aug-03                                    Open Date                                           Open Price  Close Price
London Forfaiting Company Plc, Long CFD    July 23, 2003    Sell                   1,500,000       29.325       29.75



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