Further re Conv Bond Issue

3i Group PLC
09 July 2003

Not for distribution in or in to the United States, Canada, Japan and Australia

3i Group plc

9 July 2003

3i Group plc ('3i') successfully completes Convertible Bond Issue to raise Euro
500 million



3i announces that the terms for its Euro 500 million convertible bonds due 2008
(the 'Bonds') have been fixed as follows:


    *     conversion price has been set at 841.676 pence per share, which
    represents a 45 per cent premium over the VWAP reference price of 580.466
    pence, and

    *     the cash coupon has been set at 1.375 per cent.



Application will be made for the Bonds to be admitted to the Official List of
the UK Listing Authority and to the London Stock Exchange plc for the Bonds to
be admitted to trading on the London Stock Exchange's market for listed
securities. The Bonds will be offered outside the United States in compliance
with Regulation S. Merrill Lynch International is acting as sole bookrunner and
joint-lead manager. Dresdner Kleinwort Wasserstein Limited is acting as
joint-lead manager and Barclays Capital SEC is acting as co-lead manager on this
transaction (together with Merrill Lynch International, the 'Managers').

In addition, 3i has granted Merrill Lynch, on behalf of the Managers of the
offering, an over allotment option of up to Euro 50 million of Bonds.

For further information please contact:

3i Group plc      020 7928 3131

Michael Queen

Alan Walker

Patrick Dunne

Merrill Lynch International     020 7995 2000

Michael Findlay

Rupert Hume-Kendall

Julian Kozerski

Richard Snow

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.




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