ICG 1st 2006 Fund Closing

Intermediate Capital Group PLC
28 November 2006





Embargoed until 7.00am

Tuesday 28th November



ICG ANNOUNCES FIRST CLOSING OF NEW ICG EUROPEAN FUND 2006

This notice is not an offer of securities for sale in the United States or to a
US person.  The securities described in this notice have not been registered
under the United States Securities Act of 1933 and may not be offered or sold in
the United States or to a US person absent registration or an exemption from the
registration requirements.  The terms 'United States' and 'US person' each have
the meanings set forth in Regulation S promulgated under the United States
Securities Act of 1933.

Intermediate Capital Group PLC ('ICG') is pleased to announce the first closing
its new fund, ICG European Fund 2006 with initial commitments of €650 million
with an associated debt facility of €900 million. ICG hopes to be able to
announce a final closing in the New Year with target equity commitments of €1.25
billion. With leverage, the fund will have a total capacity of approximately
€2.25 billion.


Enquiries:

Tom Attwood, Managing Director, Intermediate Capital Group PLC [phone]

Gill Ackers/Helen Barnes, Brunswick Group Limited [phone]




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