London Forfaiting Co - Trading Statement

RNS No 2769w
LONDON FORFAITING COMPANY PLC
23rd June 1998


                   LONDON FORFAITING COMPANY PLC
                                                                              
Shareholders will already be aware from the Company's last annual report
published in March this year of the difficult economic and market conditions
in Asia and other emerging markets and their effect on the profits in the
final quarter of last year.  They will also know from the media that these
conditions have recently worsened. 

In such a market climate it is inevitable that questions will be asked about
the likely outcome of the Company's results for the year.  Shareholders will
appreciate the difficulty of forecasting in these circumstances.  With
prudential valuations of assets and taking into account the current climate
which for the time being has resulted in lower turnover, pre-tax profit for
the year is likely to be substantially below previously published analysts'
estimates.

It should however be noted that the current market conditions tend to increase
the profitability of individual export finance transactions in most countries
of the world. They also create opportunities for expanding non-recourse
finance for exports from Asia to the rest of the world and we are already
experiencing an increased level of enquiries.

In this context your Company believes that, once the current turbulence
abates, its prospects for strong profit growth remain unimpaired.  Its
position as forfaiting market leader with a world-wide presence leaves it very
well placed to achieve this growth.

Any enquiries should be directed to:


          Jack A.G. Wilson  -  Chairman
          Stathis Papoutes  -  Chief Executive

          Tel No:  0171 481 3410

END

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