Chairman's Statement

3i Group PLC
12 July 2000


3i GROUP PLC
ANNUAL GENERAL MEETING - 12 JULY 2000


At the Annual General Meeting of 3i Group plc held today,
Sir George Russell, the Chairman, made the following
comments:

'3i made excellent progress in the year in moving towards
the achievement of our strategic objectives and we have
achieved very good financial results.  To put these results
in context, when 3i floated in 1994 our market
capitalisation was £1.6 billion.  This year, in one year
alone, we reported a record total return of £1.6 billion.  A
very sizeable achievement.

'Since the year end there has been a correction in quoted
technology markets.  As we said at the time of our results,
we see this as broadly positive for 3i and it has no impact
on our enthusiasm for investment in this area.  Since the
year end 18 companies in which 3i has invested have achieved
a flotation, including Bookham and Telecity.  These listings
as a group have achieved a significant growth in value and
will have more than compensated for this correction.  We
have also announced the acquisition of SFK, a leading
technology venture capital investor in Finland, and the
opening of an office in Zurich.'


For further information:

Liz Hewitt, 3i                             
Tel: [phone]

Philip Gawith, The Maitland Consultancy     
Tel: [phone]