Holding in Company

3i Group PLC
19 July 2000

Letter To:     3i Group Plc

I write to advise that the combined asset management operation of Hill Samuel
Asset Management Ltd and Scottish Widows Investment Management Ltd, known as
Scottish Widows Investment Partnership Ltd, no longer has a notifiable interest
in the ordinary shares of the above mentioned company.

This notification is made on behalf of Lloyds TSB Group plc, Lloyds TSB Bank plc
and Scottish Widows Group Limited.

Letter From:   Scottish Widows Investment Partnership