Japan Restructuring

ICAP plc - Japan Restructuring

London, 3 October 2011 - ICAP plc (IAP.L), the world's leading interdealer broker, announces it is restructuring its strategic interests in Japan in order to expand the potential scale of its Japanese Government Bond ("JGB") business while, at the same time, increasing its investment in a growing derivatives business.

ICAP Totan Securities Co Limited (ITS), a 60% majority owned subsidiary of ICAP, has agreed to dispose of its JGB business to Central Tanshi Securities (CTS).

Simultaneously, ICAP and its existing partner, Totan Holdings (Totan) will acquire shares from CTS in a new company, Central Totan Securities Co Limited (Central Totan Securities) which will operate the expanded JGB business. Following completion of the transaction, ICAP will hold a 20% interest in Central Totan Securities and Totan and CTS each will hold 40%.

As part of the restructuring, ICAP will also increase its ownership in Totan Capital Markets Co Ltd (TCM), a leading Interest Rates Derivatives broker, to 40% from the currently held 28.14%.

Gross assets disposed of in this transaction amount to £1 million. Completion of the restructuring is expected in January 2012.

Notes:

1. Post completion, TCM will be renamed to include ICAP in its name.

2. Post completion, there will be 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.

Contacts: