Pre-close period briefing

3i Group PLC
29 September 2005



29 September 2005



3i Group plc - Pre-close period briefing



3i Group plc ('3i'), a world leader in private equity and venture capital, will
be holding discussions with analysts and investors ahead of its close period for
the six months ending 30 September 2005.  This statement sets out the
information that will be covered in those discussions.  3i expects to announce
its interim results for the six months ending 30 September 2005 on 10 November
2005.



The main topics that will be discussed with analysts and investors are set out
below.



1        Investment and realisations



3i invested a total of £578 million in the five months ended 31 August 2005,
compared with £365 million in the equivalent period last year.  This includes
£74 million (2004: £71 million) invested on behalf of co-investment funds
managed by 3i.



Realisation proceeds received by 3i (excluding funds) totalled £910 million in
the five months ended 31 August 2005, which compares with realisation proceeds
of £577 million in the equivalent period last year.



During the month of September, the amount invested by 3i (excluding funds) is
expected to exceed realisation proceeds.



2        Returns



An important element in the determination of 3i's results for the six months to
30 September 2005 is the detailed valuation exercise carried out on its
investment portfolio as at that date.



Realisations for the six month period are anticipated to have generated an
aggregate uplift percentage over 31 March 2005 carrying values, broadly in-line
with that for the same period last year.



The unrealised value movement for the six month period is expected to be
substantially higher than in the same period last year, reflecting sales or
initial public offerings anticipated early in the second half of the financial
year, together with uplifts to carrying values reflecting the rise in quoted
markets over the period.  Provisions against the carrying value of investments
in businesses which may fail are expected to be broadly in-line with those made
in the equivalent period last year.



During the period, the cumulative performance of Eurofund III, 3i's 1999
pan-European fund, passed through the point at which recognition of carried
interest receivable in 3i's accounts is triggered.  The net carried interest
position for 3i for the period is expected to be a net receivable.



3        Return of capital to shareholders



3i paid a special dividend of approximately £245 million to shareholders in July
2005.  In addition, having obtained shareholders' approval on 6 July, 3i has
since then made aggregate purchases of £150 million (exclusive of expenses).



Philip Yea, 3i's Chief Executive, said:



'The year so far has seen a strong all-round performance.  Realisations have
continued to benefit from an excellent financing environment, and the level of
quoted markets has also to-date been favourable.  We have enjoyed a steady flow
of good investment opportunities, helped by a strong pipeline as we entered the
financial year.



'In addition, we continue to make good progress on a number of our strategic
initiatives especially in Asia and with our approach to Growth Capital
investing.'



Ends





For information please contact:


Simon Ball        Finance Director, 3i Group plc                   020 7975 3356
Patrick Dunne     Group Communications Director, 3i Group plc      020 7975 3283
Philip Gawith     The Maitland Consultancy                         020 7379 5151





This statement aims to give some indication of 3i's expected return (and of key
components of that return) for the six months to 30 September 2005.  These
indications reflect the Board's current view.  They are subject to a number of
risks and uncertainties and could change.  The final numbers for the six months
to 30 September 2005, due to be reported on 10 November 2005, may differ
accordingly.  Factors which could cause or contribute to such differences
include, but are not limited to, general economic and market conditions and
specific factors affecting the financial prospects or performance of individual
investments within 3i's portfolio.








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