Portfolio Update

3i Group PLC
04 January 2006

Listing rule 15.4.11R (2) -ten largest investments as at 31 December 2005



Listing Rule 15.4.11R (2) requires 3i Group plc, as an investment trust, to
publish a list of at least its ten largest investments as at each quarter end.
3i Group plc's investment portfolio comprises about 1,300 investments most of
which are unquoted.  Unquoted investments are revalued twice a year as at 30
September and 31 March.  Directors' valuations of unquoted investments have not
been updated since the valuations as at 30 September 2005 save that they have
been adjusted for disposals, further investments and, where appropriate,
write-offs or provisions. Quoted investments have been revalued as at the
quarter end.



Based on directors' valuations of unquoted investments as at 30 September 2005
(adjusted as mentioned above) and on the valuations of quoted assets as at 31
December 2005 the ten largest investments of 3i Group plc as at 31 December 2005
were as listed below.


Company                           Nature of business                   Type of investment
Betapharm Arzneimittel GmbH       Supplier of generic prescription     Equity shares and loans
                                  drugs
Boxer TV - Access AB              Digital TV distributor               Equity shares
Giochi Preziosi Spa               Toy manufacturer and distributor     Equity shares and loans
Infrastructure Investor LP        Secondary PFI and infrastructure     Equity shares and loans
                                  investment fund
Oval (2040) Ltd (NCP)             Transport management and parking     Equity shares and loans
                                  services
Refresco Holding BV               Fruit juice producer                 Equity shares and loans
SR Technics Holdings AG           Technical solutions provider for     Equity shares and loans
                                  commercial aircraft fleets
Vetco International Ltd           Oilfield equipment manufacture       Equity shares and loans
Vonage Holding Corporation        VoIP service provider                Equity shares
Williams Lea Group Ltd            Outsourced print services            Equity shares



Note: This announcement is made to comply with Listing Rule requirements.  The
list set out above is based on valuations as referred to above.


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