Lon.&Metropolitan - Offer Acceptances, etc

RNS No 6836x
LONDON & METROPOLITAN PLC
10th June 1998


Not for release, publication or distribution in or into the United States,
Canada, Australia or Japan.



                  Grantchester Holdings PLC ("Grantchester")                  
                                                                              
                       Recommended Offer ("Offer") for                       
             London & Metropolitan PLC ("London & Metropolitan")              
                                                                              
                          Section 429-430 procedures                          

Grantchester announces that as at 3.00 p.m. on 8 June 1998 valid acceptances
of the Offer had been received in respect of a total of 45,318,562 London &
Metropolitan Shares, representing approximately 94.1 per cent. of the issued
share capital of London & Metropolitan. 

Grantchester has commenced procedures under the provisions of Sections 429-430
of the Companies Act 1985 (as amended) to compulsorily acquire the remaining
London & Metropolitan Shares held by London & Metropolitan Shareholders who
have not accepted the Offer to date.

Enquiries:

Grantchester                                                    0171 335 1200
Nick Hewson       


The directors of Grantchester accept responsibility for the information
contained in this announcement.  To the best of the knowledge and belief of
the directors of Grantchester (who have taken all reasonable care to ensure
that such is the case), such information is in accordance with the facts and
does not omit anything likely to affect the import of such information.

Credit Suisse First Boston, which is regulated by The Securities and Futures
Authority Limited, is acting for Grantchester and no-one else in connection
with the Offer and will not be responsible to anyone other than Grantchester
for providing the protections afforded to customers of Credit Suisse First
Boston or for giving advice in relation to the Offer.


END

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