Close Finsbury

Close Brothers Group PLC
11 December 2000


Close Finsbury Asset Management Limited


Close Brothers Group plc ('Close Brothers') today announces that it has
increased its shareholding in AFIM Limited from 50% to 100%.  The shares
acquired had previously been held by Artemis Investment Management Limited
('Artemis') in a joint venture with Close Brothers. As a consequence of this
acquisition the joint venture agreement between Close Brothers Group and
Artemis is terminated.

AFIM Limited will continue to be the investment manager for Finsbury Growth
Trust PLC ('FGT') and Lindsell Train Limited has been appointed as the new
discretionary investment adviser to FGT. Nick Train, a director of Lindsell
Train Limited will take responsibility for the day to day management of the
investment portfolio of FGT with immediate effect. 

AFIM Limited will continue to be the investment manager for Finsbury Smaller
Quoted Companies Trust PLC ('FSQ') and Richard Power, previously manager of
the Duncan Lawrie Smaller Companies Unit Trust is joining Close Brothers on 2
January 2001 to manage the investment portfolio of FSQ.

The Boards of Directors of FGT and FSQ have today made separate announcements
as to these arrangements.

John Dodd and Mark Tyndall, directors of Artemis, will continue to advise
Finsbury Trust PLC and Finsbury Income and Growth Investment Trust PLC
respectively.

Enquiries

Alastair Smith   Close Finsbury Asset Management Limited         020 7426 6240
Colin Edge       Close Finsbury Asset Management Limited         020 7426 6233
Mark Tyndall     Artemis Investment Management Limited           0131 225 7300
John Dodd        Artemis Investment Management Limited           0131 225 7300
Fiona Harris     Quill Communications                            020 7618 7940
Colin Keogh      Close Brothers Group plc                        020 7426 4115

Notes to Editors

AFIM Limited

Until today's announcement AFIM Limited, which is regulated by IMRO, was a
joint venture company between Close Brothers Group and Artemis Investment
Management Limited. AFIM Limited was set up in 1997 to act as investment
manager to Finsbury Growth Trust PLC, Finsbury Smaller Quoted Companies Trust
PLC and Finsbury Income and Growth Investment Trust PLC and as adviser to
Finsbury Trust PLC.

Close Finsbury Asset Management Limited

Close Finsbury Asset Management Limited is regulated by IMRO. Established in
1985 it is a wholly owned subsidiary of Close Brothers. Close Finsbury and
AFIM together manage in the region of £900 million comprising the investment
portfolios for eight investment trusts and a range of open ended investment
funds.

Close Finsbury prides itself on having a flexible business model.  Except in
areas of in-house expertise, the management of funds is out-sourced to
specialist companies that have talented investment teams made up of proven
professionals in their particular fields.