Compulsory Acqn. of Shares

CLOSE BROTHERS GROUP PLC
19 October 1999


 Not for release, publication or distribution in or into the United States,
                         Canada, Australia or Japan
                                      
                                      
   Recommended Offer by J. Henry Schroder & Co. Limited on behalf of Close
               Brothers Group Plc for Rea Brothers Group Plc.


Close Brothers Group Plc announces that it has today completed the compulsory
acquisition, pursuant to section 429 of the Companies Act 1985, of those  Rea
Brothers Shares for which acceptances of the Offer dated 27 July 1999 had not
been received by 18 October 1999.  As a result of the compulsory acquisition,
Close  Brothers  Group Plc has acquired 100 per cent.  of  the  Rea  Brothers
Shares.  The Offer will close on 2 November 1999.

Enquiries:

Close Brothers Group plc
Robin Sellers                 0171 655 3100

Schroders
Jan Skarbek                   0171 658 6000


The  definitions set out in the Offer Document dated 27 July  1999  apply  in
this announcement.

The  Offer  is not being made, directly or indirectly, in or into the  United
States,  Canada,  Australia or Japan.  Accordingly, neither  copies  of  this
announcement nor any related Offering Documents are to be mailed or otherwise
distributed or sent in or into the United States, Canada, Australia or Japan.

Schroders,  which  is regulated by The Securities and Futures  Authority,  is
acting  for Close Brothers and no-one else in connection with the  Offer  and
will not be responsible to anyone other than Close Brothers for providing the
protections  afforded to customers of Schroders or for  providing  advice  in
relation to the Offer.