Holding in Company

3i Group PLC
14 September 2000

Letter to:  3i Group Plc

NOTIFICATION UNDER PART VI OF THE COMPANIES ACT 1985 (AS AMENDED BY THE
COMPANIES ACT 1989)

I write to advise that, following the aggregation of the funds of Hill Samuel
Asset Management Ltd and the funds of Scottish Widows Investment Management Ltd,
the combined asset management operation, known from 30th June as Scottish Widows
Investment Partnership Ltd is interested in 24,189,128 ordinary shares of the
above mentioned company.  Of this interest, 18,215,747 shares are material
interests, which we understand represents 3.006% of the relevant share capital,
and constitutes a notifiable interest for the purposes of Part VI of the
Companies Act 1985.  This is calculated on an issued share capital of
605,990,309 shares.

This notification is made on behalf of Lloyds TSB Group plc, Lloyds TSB Bank plc
and Scottish Widows Group Limited who are deemed to be interested in these
shares.

The schedule below identifies the registration details of this holding.

Letter from Scottish Widows Investment Partnership


Schedule

HILL SAMUEL ASSET MANAGEMENT LTD AND SCOTTISH WIDOWS INVESTMENT MANAGEMENT LTD

                       NOTIFIABLE INTEREST IN SHARES

           Movement of 3% Aggregated Holdings - Material Stock Interests        

SEDOL Number:                    0888693
Company Name:                    3i Group Plc
Stock Description:               ORD GBP 0.50

   Amount    Group    Fund   
             Company  Code  Registered Holder                          Interest

 2,483,100   HSAM    AAIAA  STATE STREET NOMINEES LIMITED A/C XBY2     MATERIAL
   101,900   HSAM    AA2AA  STATE STREET NOMINEES LIMITED A/C XBY3     MATERIAL
   649,956   HSAM    ALEQI  GLOBAL INVESTORS SERVICES                  MATERIAL
    32,200   HSAM    ALSPF  HSBC GLOBAL CUSTODY NOMINEE (UK) LIMITED   MATERIAL
 1,416,844   HSAM    APEQU  HSBC GLOBAL CUSTODY NOMINEE (UK) LIMITED   MATERIAL
 1,605,800   HSAM    BH2AA  STATE STREET NOMINEES LIMITED A/C XBJ2     MATERIAL
   166,050   HSAM    BH9AA  STATE STREET NOMINEES LIMITED A/C XBK2     MATERIAL
    30,700   HSAM    BP1AA  STATE STREET NOMINEES LIMITED A/C XBJ3     MATERIAL
 1,479,900   HSAM    GPS    STATE STREET NOMINEES LIMITED A/C XBY4     MATERIAL
    27,800   HSAM    LGOPS  STATE STREET NOMINEES LIMITED A/C XBY5     MATERIAL
    20,000   HSAM    LLEQT  HSBC GLOBAL CUSTODY NOMINEES (UK) LIMITED  MATERIAL
    53,200   HSAM    LLFNL  HSBC GLOBAL CUSTODY NOMINEES (UK) LIMITED  MATERIAL
 1,258,800   HSAM    TSLTM  STATE STREET NOMINEES LTD A/C XBK6         MATERIAL
    11,400   HSAM    TSPIP  C O NOMINEES LIMITED                       MATERIAL
   327,101   SWIM    AZU    RBSTB NOMINEES LTD A/C SW                  MATERIAL
 1,165,300   SWIM    FEU    VIDACOS NOMINEES LTD                       MATERIAL
    43,379   SWIM    FIX    VIDACOS NOMINEES LTD                       MATERIAL
    87,377   SWIM    IVP    RBSTB NOMINEES LTD A/C SW                  MATERIAL
   835,681   SWIM    NOI    RBSTB NOMINEES LTD A/C SW                  MATERIAL
   145,465   SWIM    P2U    RBSTB NOMINEES LTD A/C SW                  MATERIAL
   681,903   SWIM    PEQ    RBSTB NOMINEES LTD A/C SW                  MATERIAL
 5,591,891   SWIM    W01    RBSTB NOMINEES LTD A/C SW                  MATERIAL

18,215,747