Pre Close Briefings

3i Group PLC
24 September 2002

                                                               24 September 2002

3i Group plc - Pre Close Briefings



3i Group plc ('3i'), Europe's leading venture capital company, will today start
its pre close period analyst briefings ahead of the announcement of its interim
results on 14 November 2002.

The results for the half year will be based on the normal detailed valuation
exercise carried out at 30 September 2002.

The main topics which will be discussed during the briefings are:

 1. Investment

    Activity in the private equity and venture capital markets has been lower
    than last year. However, 3i has continued to make investments in a broad
    range of sectors and geographies, although, at a lower rate than last year.
    Investment in the five months to 31 August 2002 was £340 million (including
    co-investment funds).

 2. Realisations

    There have been lower levels of activity in the mergers and acquisition
    markets and a reduced appetite of the quoted markets for new issues.
    However, realisations have continued across the portfolio generating cash
    inflow of £587 million in the five months to 31 August 2002. The
    realisations include £144 million from the sale of Go-Fly Limited.

 3. Unquoted Portfolio

    The recent Enterprise Barometer survey of the 3i portfolio suggests that
    business confidence in the portfolio is weaker than last quarter. However,
    the majority of the 3i unquoted portfolio continues to perform
    satisfactorily despite tougher economic conditions, particularly for
    manufacturing and technology sectors. We expect that the level of provisions
    for investments that may fail in the six months to 30 September 2002 will be
    lower than the same period last year.

 4. Capital

    3i announced in May this year at the time of the preliminary results that it
    proposed to issue £300 million of perpetual preferred securities.
    Consideration of such an issue has been deferred until market conditions are
    more favourable.

    3i also announced in May this year that it is raising a e 3 billion fund for
    mid-market management buy-outs. This fund raising is progressing well and a
    first closing is anticipated during the current financial year.

 5. Strategy


    3i's key strategies are:

  • To build strong businesses in each of the major venture capital markets.
  • To achieve a balanced business by product, by industry sector and by
    geographic region.
  • To invest in companies that have the potential to grow their revenues and
    profits.
  • To use our international network to provide real competitive advantage for
    3i and our investee companies.



Ends

For information please contact:

Michael Queen - Finance Director - 3i Group plc - 020 7975 3400

Liz Hewitt - Director of Corporate Affairs - 020 7975 3283

Philip Gawith - The Maitland Consultancy - 020 7379 5151


                      This information is provided by RNS
            The company news service from the London Stock Exchange