Statement re Pre close

3i Group PLC
30 September 2004



3i Group plc - Pre close briefings 30 September 2004



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 4 November 2004.


The results for the half year will be based on the normal detailed valuation
exercise carried out at 30 September 2004.


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



1       Strategy



3i's key strategies are to:



•         Build strong businesses in each of the major venture capital and
private equity markets

•         Achieve a balanced business by product, by industry sector and by
geographic region

•         Invest in companies that have the potential to grow their revenues and
profits

•         Use our international network to provide real competitive advantage
for 3i and our investee companies



2       Organisation and management changes



         3i is announcing the following organisational and management changes
today:



•         Chris Rowlands the member of 3i's Executive Committee currently
responsible for Growth Capital and Asia Pacific is appointed to a new role Head
of Group Markets, with responsibility for further developing the benefits of the
Group's geographic network as well as its sector and business contacts

•         Michael Queen, the Group's Finance Director, will be appointed to
succeed Chris Rowlands as Head of Growth Capital once a new Finance Director is
appointed

•         Denise Collis is appointed as Group Human Resources Director with
effect from 8 November and will join the Executive Committee on that date.
Denise is currently Partner, Head of Human Resources of Ernst & Young

•         The process has commenced to appoint a new Finance Director, who is
expected to be an external candidate





The implementation of these changes will result in the following Executive
Committee structure.



Chief Executive:                                     Philip Yea

Finance Director:                                    To be appointed

Head of Buy Outs:                                    Jonathan Russell

Head of Growth Capital:                              Michael Queen

Head of Venture Capital:                             Rod Perry

Head of Group Markets:                               Chris Rowlands

Head of Funds:                                      Paul Waller

Group Human Resources Director:                     Denise Collis

Company Secretary:                                 Tony Brierley





Commenting on these changes, Philip Yea, CEO said



'Today's changes will improve 3i's engagement with the market.  We have an
unparalleled network of people and offices which is already of real advantage to
each of our three business lines.  Deploying our scale with greater speed and
agility is a winning strategy.'



3       Investment



         Investment, including co-investment funds to 31 August 2004, totalled
£365 million.  This compares with total investment of £187 million, including
co-investment funds, to
31 August 2003.



4       Realisations



         Realisation proceeds were £577 million in the five months to 31 August
2004.  This compares to realisation proceeds of £409 million to 31 August 2003.



5       Unquoted portfolio



         The latest Enterprise Barometer survey of the 3i portfolio was
published on 10 September 2004.  The overall result remained positive at +30,
despite showing a slight fall from the last quarter, +49.  There is, however,
considerable variation in confidence levels across Europe.  The majority of 3i's
unquoted portfolio continues to perform satisfactorily.



         We expect that the level of provisions for investments that may fail
and downrounds for the period to 30 September 2004 will be at lower levels than
for the interim period to
30 September 2003.



Commenting on these numbers, Philip Yea, CEO said:



'Today's trading statement contains good news on the investment front, another
strong performance in terms of realisations and the organisational changes we
have announced will build on this momentum.'



6       3i Group Pension Plan



         In preparation for International Accounting Standards (IAS), the Group
will fully implement Financial Reporting Standard 17 (FRS 17) 'Retirement
Benefits' for the Interim Statement to 30 September 2004.  Adoption in full of
this UK Accounting Standard is expected to result in substantially the same
accounting treatment as that which will occur upon adoption of IAS.  As
disclosed in the notes to the Report and Accounts for the year to 31 March 2004,
fully implementing FRS 17 at 31 March 2004 would have resulted in a £110 million
reduction in consolidated net assets which will be accounted for as a prior year
adjustment.



         During the period, the routine Actuarial valuation of the 3i Group
Pension Plan as at 30 June 2004 highlighted an actuarial deficit on the ongoing
funding basis of £67 million.  Since 30 June 2004, contributions of £63 million
have been made to the Plan to largely eliminate this deficit.  These payments
have no impact on net asset value.





Ends





For information please contact:



Michael Queen       Finance Director, 3i Group plc                020 7975 3386

Patrick Dunne       Group Communications Director, 3i Group plc   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