Pre Close Briefings

3i Group PLC
30 September 2003



3i Group plc - Pre Close Briefings 30 September 2003


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 6 November 2003.



The results for the half year will be based on the normal detailed valuation
exercise carried out at 30 September 2003.



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



1   Investment



     Activity in the private equity and venture capital markets continues at
lower levels than last year. 3i continues to make investments in a broad range
of sectors and geographies, although, as we indicated in May, at the time of
3i's full year results to 31 March 2003, and also in July at the Annual General
Meeting, at a lower rate than last year.  Investment in the five months to 31
August 2003 was £187 million (including co-investment funds).



2   Realisations



The market for mergers and acquisitions and the appetite of the quoted markets
for new issues remains subdued. However, realisations have continued across the
portfolio generating cash inflow of £409 million in the five months to 31 August
2003.



3   Unquoted Portfolio



     The recent Enterprise Barometer survey of the 3i portfolio suggests that
business confidence has improved since last quarter.  The majority of 3i's
unquoted portfolio continues to perform satisfactorily.



We expect that the level of provisions for investments that may fail and down
rounds in the six months to 30 September 2003 will be considerably lower than
the same period last year.



4   Capital



In July of this year, 3i successfully completed a €550 million convertible bond
issue due in 2008.  The conversion price is approximately 841p, which represents
a 45% premium over the reference price of 580p.  The cash coupon is 1.375%.




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

Patrick Dunne - Group Communications Director - 020 7975 3566

Philip Gawith - The Maitland Consultancy - 020 7379 5151




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