ICAP TO ACQUIRE GLOBAL EQUITY DERIVATIVES BROKER LINK ASSET AND SECURITIES COMPANY

Posted April 7, 2008

LONDON – Voice and electronic interdealer broker ICAP plc plans to acquire The Link Asset and Securities Company Ltd., a specialist global equity derivatives broker, through ICAP’s Intercapital plc unit, for £135 million ($268 million).

“We have been very clear that our strategy is to grow ICAP’s business both organically and by selected acquisition,” says Michael Spencer, Group Chief Executive of ICAP. “Equity derivatives are one of the ‘focus’ areas for our voice business which we have identified as having faster structural growth opportunities. The market has expanded hugely during the past five to seven years as a result of the search for yield, the demand for absolute returns and the emergence of volatility as a traded asset class in its own right. This is an important further step in building our overall capability in the equity markets.”

Link Asset and Securities Company has 136 staff members covering Europe, the Americas and Asia, serving more than 500 customers from offices in London, New York and Hong Kong.

“Since its launch in 1997, Link has established itself as the pre-eminent broker in equity derivatives globally,” says Charlie Davies, Group Chief Executive of Link. “In these markets, where risk can be complex and non-standard, our ability to understand and relay financial information in an efficient and knowledgeable way greatly adds to the liquidity available to our clients. We plan to combine Link’s strengths in index and single-stock derivatives with the majority of ICAP’s existing equity derivatives business outside the US and do not expect there to be any significant overlap.”