RNS Number:1354O
Cantor Fitzgerald Europe
30 July 2003


FORM 8.1/8.3

Lodge with a RIS or Newstrack and the Takeover Panel. Use separate form for each
class of securities in which dealings have been made.

                           Date of disclosure                30/07/03...........

DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) AND 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS


Date of dealing     29/07/03..................................


Dealing in       London Forfaiting Company Plc................(name of company)


(1)   Class of securities (eg ordinary shares)   ordinary shares...............


(2)   Amount bought                  Amount sold               Price per unit
            100,000                                                     0.295
             50,000                                                     0.295
            100,000                                                     0.295
            200,000                                                     0.295

In addition, Cantor Fitzgerald Europe (and affiliates) have undertaken certain
CFD and Spreadbet transactions(see below).



(3)   Resultant total of the same class owned or controlled
      (and percentage of  class)          3,120,000 shares* ( 2.98%)



(4)   Party making disclosure      Cantor Fitzgerald Europe.................


(5)   EITHER     (a) Name of purchaser/vendor (Note 1) Cantor Fitzgerald Europe

      OR         (b) If dealing for discretionary client(s), name of fund
                     management organisation


(6)   Reason for disclosure (Note 2)

      (a)   associate of   (i)    offeror (Note 3)     NO

                           (ii)   offeree company      NO


      Specify which category or categories of associate (1-8 overleaf) .......


      If category (8), explain .............................................


      (b)   Rule 8.3 (ie disclosure because of ownership or control of 1% or
            more of the class of relevant securities dealt in)     YES


Signed, for and on behalf of the party named in (4) above .....................


(Also print name of signatory)          Ross Tanton...................


Telephone and extension number     020 7894 7214..............................

                     ______________________________________

*In addition, Cantor Fitzgerald Europe(and affiliates) are party to certain CFDs
and Spreadbets (see below)


Note 1. Specify owner, not nominee or vehicle company. If relevant, also
identify controller of owner, eg where an owner normally acts on instructions of
a controller.

Note 2. Disclosure might be made for more than one reason; if so, state all
reasons.

Note 3. Specify which offeror if there is more than one.

Note 4. When an arrangement exists with any offeror, with the offeree company or
with an associate of any offeror or of the offeree company in relation to
relevant securities, details of such arrangement must be disclosed, as required
by Note 6 on Rule 8.

Note 5. It may be necessary, particularly when disclosing derivative
transactions, to append a sheet to this disclosure form so that all relevant
information can be given.

Note 6. In the case of an average price bargain, each underlying trade should be
disclosed.

For full details of disclosure requirements, see Rule 8 of the Code. If in
doubt, contact the Panel on Takeovers and Mergers, Monitoring Section, Tel. No:
020 7638 0129. E-mail:monitoring@disclosure.org.uk



                                               Date of Disclosure: July 30, 2003

Form 8 Enclosure

Cantor Fitzgerald Europe is the beneficial owner of 3,120,000 London Forfaiting
Company PLC ordinary shares.  3,100,000 of these shares are held to hedge
Contract for Differences ("CFD") positions for clients and 20,000 of these
shares are held to hedge Spreadbet positions between Cantor Index Limited and
other clients.

A Long CFD is a product where the client to whom the product is sold is taking a
long economic interest in the underlying share price such that the client can
realise a gain if the price of the underlying securities rises above the
reference price.

A Spread Bet is a product where the client to whom the product is sold can
realise a gain or a loss depending on whether the price of the underlying
security increases above or falls below the reference price.  The client's
Spread bet position is described as his "stake".  A "stake" is expressed in
pounds (sterling) per "point" and a "point" is the price in pence of the
underlying shares.  A client with a "stake" of #100 per point will make a gain
of #100 for every penny increase in the underlying shares and he/she has an
exposure equivalent to 10,000 shares.

A purchaser of a Spread Bet or a CFD contract will realise a gain if the price
of the underlying security goes up. A seller of a Spread Bet or a CFD contract
will realise a gain if the price of the underlying security goes down.

There are no written or oral agreements between Cantor Fitzgerald Europe and any
clients concerning the control of voting rights in relation to the underlying
shares used to hedge the CFDs and Spreadbets.

The CFD contracts are open-ended and there is no rollover into new contracts

                                                                                                                   
Contracts for Differences                                                  Date of Disclosure:     30-Jul-03 
London Forfaiting Company Plc                                    Cantor                            Reference 
                                                             Fitzgerald      Underlying Number        Price  
Product Name                                Date Executed      Buy/Sell              Of Shares       (pence) 
London Forfaiting Company Plc, Long CFD     July 23, 2003          Sell               1,500,000       29.325 
London Forfaiting Company Plc, Long CFD     July 24, 2003          Sell                 550,000      29.3409 
London Forfaiting Company Plc, Long CFD     July 25, 2003          Sell                 125,000         29.5 
London Forfaiting Company Plc, Long CFD     July 25, 2003          Sell                 275,000         29.5 
London Forfaiting Company Plc, Long CFD     July 28, 2003          Sell                 200,000         29.5 
London Forfaiting Company Plc, Long CFD     July 29, 2003          Sell                 450,000         29.5 
                                                                                      3,100,000              


Spread Bets                                                      Cantor                            Reference 
London Forfaiting Company Plc                                Fitzgerald    Stake - # per Point        Price  
Expiry Date                                 Date Executed      Buy/Sell      1 Point = 1 pence       (pence) 
16-Sep-03                                    July 7, 2003          Sell                     200         27.3 


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