RNS Number:0509Q
London Forfaiting Company PLC
23 September 2003


London Forfaiting Company Plc

23 September 2003

        To:     The Directors
        London Forfaiting Company Plc
        International House
        1 St Katherine's Way
        London E1W 1XA
                                                              22 September 2003


        Dear Sirs


1            Notification concerning interests in shares

1.1          This notification is sent by FIMBank (UK) Limited, on behalf of itself and the persons set
             out in paragraphs 1.2.1 to 1.2.5 below ("the Interested Persons"), for the purposes stated in
             paragraph 1.2 below.

1.2          The Interested Persons hereby give notice to London Forfaiting Company Plc ("LFC") pursuant
             to, and for the express purpose of discharging the disclosure obligations stipulated by, the
             provisions of sections 198 to 202 of the Companies Act 1985 ("the Act"), of the matters
             referred to in paragraph 3 below arising out of the transaction referred to in paragraph 2.2
             below.

1.2.1        FIMBank (UK) Limited ("FIMBank UK");

1.2.2        First International Merchant Bank p.l.c ("FIMBank plc");

1.2.3        Global Financial Holdings NV ("GFH");

1.2.4.       Kuwaiti Interests for Financial Investments ("KIFI"); and

1.2.5        Kuwaiti Interests for Development Holding KSC ("KIDH").

1.3          The registered address of each of the Interested Persons is as follows:

1.3.1        FIMBank (UK) Limited
             134 Wigmore Street,
             London W1U 3SE

1.3.2        First International Merchant Bank plc
             7th Floor,
             The Plaza Commercial Centre,
             Bisazza Street,
             Sliema, SLM15
             Malta

1.3.3        Global Financial Holdings NV
             Caracasbaaiweg 199,
             Curacao,
             Netherlands,
             Antilles

1.3.4        Kuwaiti Interests for Financial Investments
             Chamber of Commerce Building,
             3rd Floor,
             P.O. Box 719 Al Safat,
             Zip Code 13008
             Kuwait

1.3.5        Kuwaiti Interests for Development Holding KSC
             The Kuwait Chamber of Commerce Building
             3rd Floor
             Al-Shuahada Street
             Sharq Commercial Area
             9 Kuwait

2            The Transaction

2.1          For your information, FIMBank UK is a wholly owned subsidiary of FIMBank plc. GFH owns a
             33.91 per cent. shareholding in FIMBank plc, and is a wholly-owned subsidiary of KIFI. KIFI
             is a family investment company and is owned as to 99.4 per cent by KIDH.

2.2          On 22 July 2003, WestLB Panmure Limited ("WestLB") made an offer on behalf of FIMBank UK to
             acquire the entire issued and to be issued share capital of LFC ("the Offer"). The Offer was
             declared unconditional in all respects on 28 August 2003.

3            Levels of Shareholdings

3.1          By virtue of (i) acceptances of the Offer and (ii) purchases by FIMBank UK of ordinary shares
             of 40 pence each comprised in the relevant share capital of LFC ("LFC Shares"), as at close
             of business on 9 September 2003 the Interested Persons are interested in 97,454,872 LFC
             Shares. None of the LFC Shares in which any of the Interested Persons is interested is by
             virtue of section 208(5) of the Act.

3.2          As at close of business on 22 September 2003, these LFC shares were registered as follows:-

3.2.1        47,519,932 of the 89,905,924 LFC Shares assented to the Offer have been registered in the
             name of FIMBank;

3.2.2        the remaining 42,385,992 LFC Shares assented to the Offer remain registered in the names of
             the shareholders who have accepted the Offer; and

3.2.3        the 7,548,948 LFC Shares purchased by FIMBank UK have been registered in its name.


Yours faithfully,

FIMBank (UK) Limited

First International Merchant Bank plc

Global Financial Holdings NV

Kuwaiti Interests for Financial Investments

Kuwaiti Interests for Development Holdings KSC


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

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