London Forfaiting Co - Holdings in Company

RNS No 2753j
LONDON FORFAITING COMPANY PLC
5th August 1998


LETTER TO: COMPANY ANNOUNCEMENTS OFFICE

We have received by post today notification from Clerical Medical Investment
Management Limited on behalf of Halifax plc and its subsidiary HCM (Holdings)
Limited that, following an increase in their shareholding, they are interested
in 5,579,328 Ordinary Shares of 40p each in London Forfaiting Company Plc,
representing 5.32% of the issued ordinary share capital.

They have informed us that this notification shall also count as a Disclosure by
HCM (Holdings) Limited, a direct subsidiary of Halifax plc, through whom the
above interests are controlled.

We have also received by post today notification from Franklin Rsources, Inc.
on behalf of The Bank of New York, London, that following an increase in their
shareholding, they are interested in 4,071,500 Ordinary Shares of 40p each in
London Forfaiting Company Plc, representing 3.89% of the issued ordinary share
capital.

We attach copies of the notifications received.

FROM: LONDON FORFAITING COMPANY PLC

                    ---------------------------------------------


LETTER TO: LONDON FORFAITING COMPANY PLC

In fulfilment of the obligation imposed upon Halifax Plc by Section 198 of the
Companies Act 1985, as amended, Halifax Plc hereby gives notice that it has a
material interest in the shares of your Company as follows:

Sedol No    No of Shares  Security Class      Fund - Registered Holder

0528784     1,101,000     Ord. Shares - 40p   Fund 2314 Chase Nominees Ltd 
                                                  a/c CMIG2314

0528784     3,952,629     Ord. Shares - 40p   Fund WPUKEQ - Chase Nominees Ltd
                                                  a/c CMIGMAIN

0528784       512,000     Ord. Shares - 40p   Fund HLOP - BT Globenet Nominees
                                                  a/c HLFXLF

0528784        10,000     Ord. Shares - 40p   Fund HPOP - BT Globenet Nominees
                                                  a/c HLFXLF

0528784         3,699     Ord. Shares - 40p   Fund UKTRAQ - CMI UK Tracking Fund

Halifax plc's total material interest in the shares is now 5,579,328 which is
5.33% of the shares in issue.

This letter shall also count as a Disclosure by HCM (holdings) Limited, a direct
subsidiary of Halifax plc, through whom the above interests are controlled.


FROM: CLERICAL MEDICAL INVESTMENT MANAGEMENT LIMITED
On behalf of Halifax Plc and its subsidiary HCM (Holdings) Limited


SCHEDULE

                    LONDON FORFAITING COMPANY PLC

                              Outstanding Shares      104,780,000

          Registered Holder         No of Shares        % of Class

          The Bank of New York      4,071,500           3.8858%
          London

          TOTAL                     4,071,500           3.8858%


END

HOLNFFPSESDPEFN

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