RNS Number:1001Q
ICAP PLC
24 September 2003


Trading Statement

24 September 2003

                    Pre Close Period Trading Statement

ICAP plc announces this trading update ahead of the close period following its
financial half year ended 30 September 2003. A pre close period analyst briefing
will be held tomorrow, 25 September at ICAP's North American headquarters in New
Jersey. ICAP's interim results will be announced on 25 November 2003.

Overall, trading activity in the wholesale financial markets in fixed income
securities and derivatives has increased during the last six months as a result
of continuing interest rate volatility and increasing issuance in the government
bond markets. ICAP benefits from its leading position and broad coverage of
these markets. Uncertainty in the global financial markets is likely to continue
and trading can be expected to remain active.

Profit (before tax, exceptional items and goodwill amortisation) for the
financial half year ended 30 September 2003 is anticipated to be ahead of
current market expectations and significantly ahead of the profit of #58.2
million achieved in the same half year period in 2002.

Since ICAP's acquisition of the majority of BrokerTec's trading operations on 7
May 2003, the acquisition has reported revenue and profit ahead of ICAP's
expectations. A project to cross connect the ICAP and BrokerTec electronic
platforms is now being implemented with our customers.  ICAP is now the world's
largest voice and electronic interdealer broker.

Contacts:

Michael Spencer         Group Chief Executive               (44) 20 7628 6708
Mike Sheard             Director of Corporate Affairs       (44) 20 7574 7771
Neil Bennett/Ken Cronin Gavin Anderson Company              (44) 20 7554 1400



Notes for Editors:

1. ICAP is the world's largest interdealer broker and following the recent
acquisition of the BrokerTec fixed income securities businesses is one of the
world's leading electronic brokers of fixed income securities with a daily
average transaction volume in excess of $500 billion, 40% of which is
electronic. The Group is active in the wholesale market for OTC derivatives,
fixed income securities, money market products, foreign exchange, energy, credit
and equity derivatives.

  * Daily transaction volumes have risen to in excess of $500 billion
  * 2800 staff operating from 21 offices worldwide
  * ICAP (IAP) is one of the UK's 130 largest quoted companies. It is listed
    on the London Stock Exchange and is a FTSE 250 company with a market
    capitalisation of circa #1.4bn (US$2.3bn)
  * For more information go to www.icap.com

2.  A pre close period analyst briefing will be held on 25 September at ICAP's
North American headquarters in New Jersey. An audiocast of the presentation made
to analysts at that briefing will be available on the web site, www.icap.com by
07:00 am BST on 26 September 2003. It will remain on the web site for at least
two months.

3. The range of five analysts' current forecasts for ICAP's profit before tax,
goodwill amortisation and exceptionals for the year ended 31 March 2004 is #149m
to #156m with a median of #154m.


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

TSTQZLBLXKBBBBD