AGM Statement

3i Group PLC
09 July 2003





9 July 2003





3i GROUP PLC

ANNUAL GENERAL MEETING - 9 JULY 2003





At the Annual General Meeting of 3i Group plc at 11:00 this morning, Baroness
Hogg, Chairman of 3i, will comment:

'3i has been improving its investment processes, sharpening its competitive
position, and giving clear leadership to each of our businesses - buy-outs,
growth capital and early stage technology. Looking forward, we believe these
initiatives give 3i a much stronger base for growth.

3i will also be issuing a convertible bond to raise up to €550 million. The
issue will enable us to take advantage of attractive investment opportunities,
replace existing borrowings that are repayable in August and for general
corporate purposes.'

Brian Larcombe, Chief Executive, will comment that:

'Realisations have continued at good levels since the year end but investment
completions have been low for 3i and the market generally. We believe this is
because macroeconomic and political uncertainty earlier in the year resulted in
business decisions being deferred. We expect to see a lower level of investment
for the first half compared with last year but expect this to increase as the
year progresses.

We continue to be confident in the quality of new investment that we are making
to drive long term growth.'



Ends

For information please contact:

Patrick Dunne - Group Communications Director - 020 7975 3283

Philip Gawith - The Maitland Consultancy - 020 7379 5151



STABILISATION/FSA

In the United Kingdom, this announcement is directed exclusively at persons who
fall within article 19 or 49 of the Financial Services and Markets Act 2000
(Financial Promotion) order 2001. The bonds referred to in this announcement
will be issued only to such persons.

This announcement is not for distribution, directly or indirectly in or into the
United States or to any US person (as defined in Regulation S under the US
Securities Act of 1933, as amended ('Regulation S')). These materials are not an
offer of securities for sale into the United States or elsewhere. The securities
may not be offered or sold in the United States or to, or for the account or
benefit of, US persons unless they are registered or exempt from registration.
There will be no public offer of securities in the United States.



Notes to Editors

3i brings capital, knowledge and connections to the creation and development of
businesses around the world. It invests in a wide range of opportunities from
start-ups to buy-outs and buy-ins, focusing on businesses with high growth
potential and strong management.

3i invests in businesses across three continents through local investment teams
in Europe, Asia Pacific and the US. To date, 3i has invested over £14.5 billion
(including co-investment funds).


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