Directorate Change

3i Group PLC
23 August 2004



3i Group plc


23 August 2004



3i Group plc - Resignation of director

3i Group plc announces that Martin Gagen, an Executive Director, has resigned
from the Board with effect from 23 August 2004 and will give up his executive
duties at the end of the month.


Allan Ferguson based at 3i's Waltham Massachusetts office assumes responsibility
for 3i's US operations reporting to Rod Perry, Executive Director responsible
for the 3i Group's venture business worldwide.  Chris Rowlands, a member of 3i
Group's Executive Committee responsible for growth capital, will assume
responsibility for Asia Pacific.


Martin Gagen said:  'I have thoroughly enjoyed my time at 3i, especially the
latter period in establishing our business in the US.  3i is a fantastic
business and it has the opportunity to grow further in the US and in Asia
Pacific.'


Philip Yea, 3i's Chief Executive, paid tribute to Martin Gagen:


'Martin has made a significant contribution to 3i since he joined in 1983.  He
has done a great job establishing 3i's presence in the United States and in
developing our business in Asia Pacific.  We wish him every success in the
future.'


Commenting further on the announcement, Philip added:


'Martin had been considering a change in career and indicated this earlier in
the year.  Making this announcement at this time allows the business to organise
for the future and enables Martin to take up a place at Stanford University in
September.'



- ends -





For further information, please contact:

Michael Queen                                  Tel:  [phone]
3i Group plc

Ingrid Tighe                                   Tel:  [phone]
3i Press office

Allan Ferguson                                 Tel:  [phone]

3i US Corporation



Notes to editors

3i is a world leader in private equity and venture capital.  We focus on
buyouts, growth capital and venture capital and invest across Europe, in the
United States and in Asia Pacific.  Our competitive advantage comes from our
international network and the strength and breadth of our relationships in
business.  These underpin the value that we deliver to our portfolio and to our
shareholders.



In the year to 31 March 2004, 3i invested £979 million, including co-investment
funds.  3i's buyout business concentrates on the mid and smaller buyout markets
in Europe and Asia Pacific and invested £492 million in the year to 31 March
2004.  Our growth capital business invested £313 million in the year to 31 March
2004 in high growth companies expanding organically or through acquisition.
3i's venture capital business invested £174m in the year to 31 March 2004 in
early stage technology companies.



3i's business in the US

3i's US business is focused on venture investing.  The teams in Menlo Park in
Silicon Valley and in Boston manage a portfolio today of 82 companies valued at
£234 million.



3i's business in Asia Pacific

In Asia Pacific, where 3i operates from Hong Kong and Singapore, the business
has a portfolio of 25 companies valued at £75 million.


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