Interim Management Statement

Intermediate Capital Group PLC
24 July 2007




Tuesday 24th July 2007




         INTERMEDIATE CAPITAL GROUP PLC - INTERIM MANAGEMENT STATEMENT



Intermediate Capital Group PLC ('ICG'), a leading provider of mezzanine capital
to companies in Europe and Asia, and a manager of third party mezzanine, CDO and
Institutional Client Funds, today publishes its first Interim Management
Statement.


This statement contains information covering the period from 1 April 2007 to 24
July 2007. Financial results are stated for the three months to 30 June 2007.


During the three months to 30 June 2007, ICG's investment activity was strong,
with £165m invested in 12 deals including funding for three acquisitions for
existing portfolio companies (see list below). This compares with 31 investments
for the last financial year. Growth of the balance sheet was offset by £209m of
repayments, including some of our larger loans such as AVR, Mach, and the AA.
ICG's loan book decreased by 4% to £1,681m during the quarter.


The Board believes that ICG's short term prospects have improved in response to
recent turmoil in the credit markets around the world. The weakness in these
markets and the 'flight to quality' is likely to result in a reduction in the
rate of loan prepayments and a more favourable competitive environment. In this
context ICG is expecting a record month for new investment in July.

ICG received £36m in cash relating to capital gains as a result of exiting six
deals and the restructuring of one investment; £8m of this gain was recognised
in the prior year.


ICG closed its on-balance sheet securitisation, Intermediate Finance II PLC, in
July 2007. This, along with ICG's other debt facilities, gives the company
significant capacity and greater flexibility for its balance sheet investing
activities.


Since ICG reported preliminary results on 5 June 2007, it has opened its first
office in North America, in New York City, staffing it with three US-based
investment professionals.


In this environment, maintaining the quality of the investment process remains
ICG's highest priority. ICG's regional network continues to find investment
opportunities which meet its high credit standards. The company therefore
foresees satisfactory growth in core income for the full year.


End



Enquiries:


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

Leonora Pou/Teresa Bianchi, Brunswick Group Limited              [phone]





This interim management statement has been prepared solely to provide additional
information to shareholders as a body to meet the relevant requirements of the
UK Listing Authority's Disclosure and Transparency Rules. The interim management
statement should not be relied on by any other party or for any other purpose.


This interim management statement may contain forward-looking statements. These
statements have been made by the directors in good faith based on the
information available to them up to the time of their approval of this report
and should be treated with caution due to the inherent uncertainties, including
both economic and business risk factors, underlying such forward-looking
information.







ICG's Investment Activity
3 months to 30 June 2007

Mezzanine + Equity                 Country    Deal Type         Equity Sponsor       Amount
                                                                                     arranged by or
                                                                                     participated in
                                                                                     currency/m

Ethypharm                          France     Buyout            Astorg               EUR 64.4
Manufacturer and developer of
drugs

Via Location                       France     Buyout            Heinberg             EUR 47.0
Truck rental

Feu Vert                           France     Buyout            CDC                  EUR 57.0
Auto centre operator

GSL                                UK         Recapitalisation  Cognetas/Englefield  GBP 14.0
Support services for public and
private sector organistions

Eismann                            Germany    Buyout            Management           EUR 78.0
Frozen food home delivery
service

Parkeon                            France     Buyout            Barclays PE          EUR 47.0
Developer and manufacturer of
parking and transit ticketing
systems

Tractel                            France     Buyout            Industri Kapital     EUR 35.0
Manufacture of lifting and access
related products

Indas                              Spain      Buyout            Vista Capital        EUR 3.0
Manufacturer of incontinence
products

V Ships                            UK         Buyout            Exponent             USD 10.0
Shipping management services

Avia Partners                      Belgium    Acquisition       3i                   EUR 10.2
Airport ground handling

Link Group                         Australia  Acquisition       PEP                  AUD 1.0
Share registry and fund
adminstration

Euroloc                            Spain      Acquisition       Advent               EUR 48.9
Equipment and machinery rental



ICG held a total of £165m in these investments at 30 June 2007



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