Result of AGM, etc

Close Brothers Group PLC
31 October 2000


Close Brothers AGM - Two acquisitions announced

At the Annual General meeting of Close Brothers Group plc today, all the
resolutions were passed and the chairman, Sir David Scholey announced two
acquisitions.  

The first of these was the acquisition of 80% of the investment management
business, OLIM Limited.  The consideration amounted to £10.45 million, which
was settled by £5.25 million in cash and loan notes and the balance by the
issue of 450,000 Close Brothers Group shares.

OLIM manages £550 million of equity, bond and property portfolios for
specialist investment trusts, pension funds, charities and private clients. 
OLIM will continue to operate under its present name and from its present
premises in the West End of London under the leadership of the founders of the
business, Matthew Oakeshott and Angela Lascelles, who together retain 20% of
the company.  

Sir David said 'We have known OLIM's management well for many years.  Its
business is complementary to the other specialist investment management
operations of our Group.  We believe that with our support OLIM will be able
to increase its business significantly.'

The second acquisition was of Braemar Finance Limited.  Braemar is one of the
UK leading arrangers of finance for the dental, veterinary and optical
sectors.  This purchase represents a new activity with substantial growth
potential for Close Brothers' asset finance business.  Braemar's long-standing
management team will retain a 13% interest in the business.

Listing
As a result of the OLIM acquisition detailed above, application has been made
to the London Stock Exchange for 450,000 ordinary shares of 25p each to be
admitted to the official list.  It is expected that permission to admit the
new shares will be granted on 2nd November 2000 and that dealings will
commence on Friday 3rd November 2000.