Results of 1 for 4 Rights Issue

INTERMEDIATE CAPITAL GROUP PLC
28 October 1999


Results of 1 for 4 Rights Issue

Intermediate Capital Group PLC (the 'Company') announces that
valid acceptances have been received in respect of 11,434,948
New Ordinary Shares, representing approximately 97.8 per cent.
of the New Ordinary Shares to be issued by the Company
pursuant to the Rights Issue announced on 16th September 1999.
This includes 1,336,916 New Ordinary Shares in respect of
which certain shareholders had irrevocably undertaken to take
up their entitlements.

Cazenove & Co. and HSBC Investment Bank plc, who are joint
brokers to the issue, have procured subscribers for the
260,818 New Ordinary Shares in respect of which valid
acceptances have not been received at 490p per New Ordinary
Share.  In accordance with the terms of the Rights Issue, the
premium over the issue price of 480p per New Ordinary Share
(after deducting the expenses of procuring such subscribers)
of approximately 9.9p per New Ordinary Share will be paid to
the Qualifying Shareholders who have not been taken up their
rights, pro rata to their lapsed provisional allotments, save
that individual amounts of less than £3.00, will not be paid
to such persons but will be retained for the benefit of the
Company.

The latest time for splitting Provisional Allotment Letters,
fully paid, is 3.00pm on Monday, 8th November 1999 and the
latest time for registration of renunciation is 3.00pm
Wednesday, 10th November 1999.

Enquiries:

Intermediate Capital Group PLC           0171 628 9898
Murray Stuart (Chairman)
Tom Bartlam (Managing Director)

Cazenove & Co.
Christopher Smith                  0171 588 2828

HSBC Investment Bank plc
Nick McCarthy                   0171 336 9000