Contrary to popular belief LSE do actually give offers out early (I received my offer in Nov 02 and accepted it...), although they don't give that many out. A lot of the applicants go to the waiting list (these are promising applicants- if they were going to reject you straight away they would have btw). Here the applications are held for a period of time before being reviewed once more applications have arrived (normally around feb-march). Offers/rejections are then made before the big open day in April.