Directorate Change

Close Brothers Group PLC
06 March 2006


                                                                   6 March, 2006



                            CLOSE BROTHERS GROUP plc



                                 Board Changes
                                 -------------

The board of Close Brothers Group plc advises that Sir David Scholey (age 70)
will be retiring at the conclusion of the next Annual General Meeting on 26
October, 2006. Sir David will be succeeded as chairman by Rod Kent (age 58), a
current non-executive director.


A number of the company's largest institutional shareholders have been consulted
on this proposed appointment.


The board has also decided that Strone Macpherson, senior independent director,
will be appointed deputy chairman at the same time.


The board is in the process of selecting an additional independent non-executive
director with the intention of making the appointment before the year end.


Following these changes, the board will comprise, in addition to Mr. Kent as
chairman, six non-executive directors and five executive directors.


Background to Mr. Kent's appointment.
-------------------------------------

The Nomination and Governance Committee considered whether Sir David's successor
should be appointed from within or outside the present board. Having considered
possible candidates in both categories, the Committee concluded, and the board
concurred, that Mr. Kent should be invited to fill the post. In reaching its
conclusion, the board acknowledged the fact that Mr. Kent's term as an executive
officer of Close Brothers from 1974 to 2002 means that he would not meet the
independence criteria of the Combined Code. Since October 2002, Mr. Kent has
served as chairman or senior independent director of three significant
companies, Bradford and Bingley plc, Grosvenor Limited and Whitbread Plc. During
this time as a non-executive director of the company Mr. Kent has consistently
shown independence of judgement.


The board attaches great importance to succession planning and continuity and
believes that these are important factors behind Close Brothers' consistent long
term success. Mr. Kent offers the unique combination of experience, continuity
and knowledge of the company's rather particular business and the board
considers his appointment to be in the best interests of the company and all its
shareholders.


For further information please contact:


Robin Sellers
Company Secretary
020 7655 3100





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