DEALINGS BY CONNECTED EXEMPT PRINCIPAL TRADERS
                       WITH RECOGNISED INTERMEDIARY STATUS
                      DEALING IN A CLIENT-SERVING CAPACITY
                       (Rule 38.5(a) of the Takeover Code)

1.   KEY INFORMATION

Name of exempt principal      J.P. Morgan Securities Ltd.
trader
Company dealt in              Alliance & Leicester Plc
Class of relevant security    Ordinary Shares
to which the dealings being
disclosed relate (Note 1)
Date of dealing               25 September 2008


2.   DEALINGS (Note 2)

(a)  Purchases and sales

Total number of          Highest price paid      Lowest price paid (Note
securities purchased     (Note 3)                3)

                                                 
14,814                   2.92 GBP                2.745 GBP

     

Total number of          Highest price received  Lowest price received
securities sold          (Note 3)                (Note 3)

                                                 
504,022                  2.92 GBP                2.7925 GBP



(b)  Derivatives transactions (other than options)

Product       Long/short       Number of securities   Price per unit
name,         (Note 4)         (Note 5)               (Note 3)
e.g. CFD
                                                      
     
     
(c)  Options transactions in respect of existing securities

(i)  Writing, selling, purchasing or varying

Product       Writing,    Number of    Exerci  Type,    Expiry   Option
name,         selling,    securities   se      e.g.     date     money
e.g. call     purchasing  to which     price   American          paid/rec
option        , varying   the option           ,                 eived
              etc.        relates              European          per unit
                          (Note 5)             etc.              (Note 3)
                                                                 

 (ii)     Exercising

Product name, e.g. call  Number of securities    Exercise price per unit
option                                           (Note 3)
                                                 
                                                 


3.   OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives


Full details of any agreement, arrangement or understanding between the
person disclosing and any other person relating to the voting rights of
any relevant securities under any option referred to on this form or
relating to the voting rights or future acquisition or disposal of any
relevant securities to which any derivative referred to on this form is
referenced.  If none, this should be stated.






Date of disclosure                         26 September 2008
Contact name                               Richard Lock
Telephone number                           0207 777 0423
Name of offeree/offeror with which         Alliance & Leicester Plc
connected
Nature of connection (Note 6)              2


Notes

The Notes on Form 38.5(a) can be viewed on the Takeover Panel's website at
 www.thetakeoverpanel.org.uk

                                                                                
                                                                                
                                                                                
                                                                                
                                                                                
                                                                                








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