IAP.L Regulatory News (IAP)

ICAP plc - Japan Restructuring Completed

London, 4 January 2012 - ICAP plc (IAP.L), the world's leading interdealer broker, announces the completion of the restructure of its strategic interests in Japan.

ICAP Totan Securities Co., Ltd. ("ITS"), a 60% majority owned subsidiary of ICAP, has completed disposal of its JGB business to Central Tanshi Securities Co., Ltd. ("CTS") as previously announced on 4 October 2011. Gross assets disposed in the transaction amount to £1m.

Simultaneously, ICAP and its existing partner, Totan Holdings Co., Ltd. ("Totan") have acquired shares from Cental Tanshi Co., Ltd., ("CT") in the newly renamed Central Totan Securities Co., Ltd. ("Central Totan Securities"). Central Totan Securities now operates the expanded JGB business. ICAP holds a 20% interest in Central Totan Securities; Totan and CT each hold 40%.

ICAP today also completed its acquisition of an increased share ownership in Totan Capital Markets Co., Ltd. ("TCM"), a leading Interest Rates Derivatives broker. ICAP now owns 40%, up from 28.14%. TCM has subsequently changed the name of the company to Totan ICAP Co., Ltd.

Notes:

1. There has been no change to ICAP's 60% shareholding in ITS which will continue to focus on and grow its Equity Derivatives business. Totan (in which ICAP owns 6%) will continue to own 40% of ITS.

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