Interim Results - Replacement

Close Brothers Group PLC
6 March 2000

The Issuer has made the following amendments (denoted by **) to the Interim
Results announcement released today at 07:23 under RNS Number 6921g.

The full corrected version appears below.


                           CLOSE BROTHERS GROUP plc

                   The specialist merchant banking group

                                announces

                        RECORD 2000 INTERIM RESULTS

Close Brothers Group plc today announced its results for the six months
ended 31st January, 2000:

                                                   2000     1999    
                                                   ______   _____   
                                                                    
* Profit before tax, reorganisation costs and                       
    goodwill write-off                             £75.2m   £33.2m  +126%
  Profit before tax on ordinary activities         £66.2m   £33.2m   +99%
                                                                    
* Earnings per share before reorganisation                          
    costs and goodwill write-off                   38.47p   18.36p  +110%
  Earnings per share on profit attributable                         
    to shareholders                                33.46p   18.35p   +82%
                                                                    
* Interim dividend                                   8.0p     5.3p   +51%
                                                                    
* Total assets                                     £2.88bn  £1.66bn  +73%

Commenting on the results, Sir David Scholey, the Chairman, said:

'These are sparkling results and the major force in their achievement was
the outstanding performance of our market-making division. Our merchant
banking division performed well and increased its contribution by some 70
per cent.

Our second half has started well and we continue to be confident of the
future organic growth of our business.'

Enquiries:

Rod Kent/Peter Winkworth
Close Brothers Group plc                                020 7 426 4000

John Sunnucks
Brunswick Group Limited                                 020 7 404 5959


DIRECTORS' STATEMENT

Interim Report

Due to exceptional circumstances we wrote to shareholders on 31st
January, 2000 regarding our profits for the six months ended on that
date.  We estimated that the profit before tax, reorganisation costs and
goodwill write-off for the period would be in excess of £72.5 million.
We are now writing to shareholders with the full text of our Interim
Announcement of Results, which was made today.

Profit and Dividend

The profit before tax, reorganisation costs and goodwill write-off for
the six months ended 31st January, 2000 was £75.2 million compared to
£33.2 million last year, and earnings per share were 38.47p, up 110 per
cent. from 18.36p last year.  These are sparkling results and the major
force in their achievement was the outstanding performance of our market-
making division.

After deducting a charge for goodwill amortisation of £1 million (1999
nil) under the new accounting rules for this item and reorganisation
charges of £8 million (1999 nil), which relate mainly to Rea Brothers
Group, the profit on ordinary activities before taxation was £66.2
million (1999 £33.2 million).

The directors have declared an interim dividend of 8p net per share, an
increase of 51 per cent. over last year.  This is payable on 14th April,
2000 to shareholders on the register at the close of business on 17th
March, 2000.

Overall Business Review

In September last year we said that our established businesses had
started our new financial year encouragingly.  This promising beginning
was maintained and our interim results are not only well ahead of those
in the somewhat depressed same period last year but substantially better
than expected and at a record level.

The mix of operating profits from our three main divisions was more
uneven than hitherto, principally because of the excellent performance of
our market-making division.

                          First half      First half     Full year
                          2000            1999           1999
                                                         
City Merchant Banking     25%             34%            28%
Market-Making             64%             32%            44%
Asset Finance             11%             34%            28%

In the period under review the group balance sheet has developed well,
reflecting acquisitions and the current level of trading.  Total assets
increased to £2.9bn from £1.7bn at the last year end; customer deposits
increased to £924 million compared to £536 million and with goodwill at
£49 million (1999 £1 million) total equity shareholders funds grew to
£338 million from £266 million.

The loan book grew by 24 per cent. to £825 million since 31st January,
1999 reflecting the addition of Warrior Finance and Granville Bank during
the period under review and net interest income increased by 21 per cent.
Bad debts were at broadly the level in the second half of last year
despite an increase in the area of car finance where there have been
uncertainties in the market.

While expecting it to increase somewhat following recent acquisitions,
our cost income ratio of 55.9 per cent. (1999 51.7 per cent.) again
demonstrates both our grip upon costs and also the performance related
nature of a significant proportion of our costs.

Divisional Business Review

Our City Merchant Banking division performed well and, with the inclusion
of the former Rea Brothers Group for the first time, increased its
contribution by some 70 per cent.

Our Corporate Finance activity has had a busy period, adding new clients
and increasing its profits compared to last year.  This activity was
focused on medium-sized growth companies particularly in the technology,
leisure and business services sectors, where we have particular
expertise.  During the period we acquired a substantial minority interest
in a growing French M&A house, now called Dome Close Brothers SA.  This
enhances our medium-term objective of providing high quality advisory
services to the awakening medium-sized growth company markets in France
and Germany.  Our second half has started well and our pipeline is
healthy, with trading conditions continuing to be favourable.

Our Asset Management activity has continued apace and the integration of
the recently acquired Rea Brothers is going well.  Investment funds under
management now total approximately £2.5 billion (1999 £0.6 billion), with
further substantial cash and trust assets managed and administered off-
shore.  A recent success has been the launch of our Close Fund
Management's FTSE Techmark Fund in November, which now exceeds £150
million.

Our Banking activity has performed well with a solid result.  Total
customer deposits have grown substantially and our Treasury operation
completed the integration of Rea Brothers' London banking business.  Our
property lending activity has been brisk, bolstered by acquiring
Granville Bank in November.  PROMPT Commercial has benefited from
improved volumes and additional senior management.  This business is
being moved to Tolworth from the City to the same premises as our
fledgling PROMPT Personal operation, which has got off to a satisfactory
start.

Our debt factoring company produced, once again, record interim results
with strong sales based on high service levels.  Mortgage Intelligence, a
near start-up in which we invested in 1997 has rapidly built up a leading
mortgage broking network in the UK and has moved, on plan, into profit;
it is also working to launch a mortgage product on the Internet.

Our Asset Finance division (67 per cent. of the group loan book) saw
lower results in the period.  This was principally because of the
uncertainty in the UK car industry, where used car volumes and prices
have fallen, reflecting the anticipated one-off reduction in new car
prices.  We believe that as this uncertainty dissipates, the market will
become more stable and that our trading will improve as the year
progresses.  In September 1999 we acquired Warrior Group, in which NAAFI
remain as a minority investor.  As planned, this Group is going through a
period of significant operational reorganisation which is unlikely to be
completed until next financial year, when the emphasis will then be put
on marketing.

In our commercial asset sector, we have experienced a mixed market and
lower than planned volumes of new business.  On the important printing
equipment side we have seen signs of improvement in the market, although
it still remains somewhat patchy.  Other assets experienced mixed
fortunes, with commercial vehicles holding up well, but light aircraft
experiencing low volumes.  However the sector continues to deliver an
excellent return on capital and towards the end of the period we
recruited two new teams in the North West with specialist knowledge of
machine tools and other commercial assets.

Our Market-Making division, Winterflood Securities ('WINS'), showed
spectacular growth in its volumes and profits.  For the last five years,
WINS' profits have been rising year on year, even though during that time
small company stocks were comparatively out of favour.  Over this period
WINS took considerable steps to broaden its business by investing in the
ability to deal with orders automatically and electronically, by
increasing the number of stocks in which it deals and by diversifying
into retail gilts market-making.  More recently WINS has started market-
making in European stocks mainly in Germany and France.  WINS currently
makes markets in over 1,800 stocks and gilts.

In the last three months of the period, the amount of activity in small
company stocks, and technology stocks in particular, has increased
substantially.  One of the reasons, we believe, for the increase in this
overall activity is the ease of dealing which new technology provides for
private investors.  We have also seen a substantial and continued growth
in the number of bargains which we book through our automatic execution
systems.  WINS' careful positioning in the market place, and its
investment in people and systems, are being amply justified.

WINS Gilts is now established as one of the pre-eminent participants in
the retail market for gilts and also produced record interim results.  It
is currently expanding its market-making into other fixed interest
instruments, such as Eurosterling Bonds, Preference Shares and PIBS.

WINS second half has started well with trading levels to date in line
with those of recent months.

Directors

It was with deep sadness that we reported the death of Michael Morley, on
20th October, 1999 shortly before he was due to retire. Sir David Scholey
was appointed chairman on that date.

Outlook

Notwithstanding the interest rate rises of recent months, the UK economy
continues to expand and corporate profits continue to grow.  These
conditions are likely to persist for the remainder of our financial year
but it remains to be seen whether the recent levels and activity in the
London Stock Market are sustained.

Our second half has started well and we continue to be confident of the
future organic growth of our business as a specialist merchant banking
group.

CONSOLIDATED PROFIT AND LOSS ACCOUNT

                         Six months ended 31st            Six        Year
                         January, 2000                    months     ended
                         Ordinary    Goodwill  Total      ended     31st
                         activit-              ordinary   31st      July,
                         ies before  amortis-             January   1999
                         goodwill    ation     activit- , 1999
                         amortisa-   and       ies
                         tion and    except-
                         except-     ional
                         ional       items
                         items
                         (Unaudi-   (Unaudi-(Unaudi- (Unaudi- (Audit-
                          ted)       ted)    ted)     ted)     ed)
                           £'000      £'000   £'000    £'000    £'000
                         _______   ______ _______  _______  _______
                                                                
Interest receivable       77,864        -  77,864    62,532   121,277
Interest payable         (41,491)       - (41,491)  (32,504)  (61,422)
                                             
                         _______   _______ _______  _______  _______
                                                                
Net interest income       36,373        -  36,373   30,028   59,855
                         _______   _______ _______  _______  _______
                                                                
Dividend income             272         -    272      263      398
Fees and commissions                                            
  receivable             57,717         -  57,717   29,704   66,162
Fees and commissions                                            
  payable               (12,569)        - (12,569)  (4,021)  (9,367)
Net dealing income -                                            
  market-making          104,092        - 104,092   21,746   67,162
Other operating income     3,492        -   3,492      581    1,341
                         _______   _______ _______  _______  _______
                                                                
Other income            153,004          - 153,004   48,273  125,696
                        _______    _______ _______  _______  _______
                                                                
Operating income        189,377          - 189,377   78,301  185,551
                        _______    _______ _______  _______  _______
                                                                
Administrative expenses 105,887      7,940 113,827   40,471   97,709
Depreciation              2,545          -   2,545    1,622    3,472
Provisions for bad and                                          
  doubtful debts          5,733          -   5,733    2,977    8,028
Amortisation of goodwill      -      1,039   1,039       11       24
                         _______   _______ _______  _______  _______
                                                                
Total operating expenses 114,165     8,979 123,144   45,081  109,233
                        _______    _______ _______  _______  _______
                                                                
Profit on ordinary                                              
  activities before                                             
  taxation               75,212  **(8,979)  66,233   33,220   76,318**  
                                                                
Taxation on profit on                                           
  ordinary activities    23,394  **(2,382)  21,012   10,717   24,473**  
                        _______    _______ _______  _______  _______
                                                                
Profit on ordinary                                              
  activities after                                              
  taxation               51,818  **(6,597)  45,221   22,503   51,845**  
Minority interests -                                            
  equity                 1,144          -     1,144      376      982
                         _______    _______ _______  _______  _______
                                                                
Profit attributable to                                          
  shareholders          50,674   **(6,597)    44,077  22,127   50,863**
                       _______      _______
                                                                
Interim dividend                             10,770    6,410   20,775
                                                                
                                            _______  _______  _______
                                                                
Retained profit                              33,307   15,717   30,088
______________________________________________________________________
                                                                
Interim dividend per                                            
share (net)                                  8.00p     5.30p    16.00p
                                                                
                                             _______  _______  _______
                                                                
Earnings per share before                                       
  amortisation of                                              
goodwill                                                       
  and exceptional items                      38.47p   18.36p   42.10p
                                                                
                                             _______  _______  _______
                                                                
Earnings per share on                                           
  profit attributable to                                       
  shareholders                                                 
                                             33.46p   18.35p   42.08p
                                                                
                                             _______  _______  _______
                                                                
Diluted earnings per                                            
share                                        33.19p   18.22p   41.88p
                                             _______  _______  _______

All income and profits are in respect of continuing operations.

CONSOLIDATED BALANCE SHEET

                                     31st January,          31st
                                                            July,
                                     2000       1999        1999
                                    (Unaudited) (Unaudited) (Audited)
                                     £'000      £'000       £'000
                                                            
Assets                                                      
Cash and balances at central banks         153         48          64
Loans and advances to banks            557,259    333,340     395,512
Loans and advances to customers        825,327    665,583     701,233
Debt securities - certificates of                           
  deposit                              290,187    186,841     208,860
Debt securities - gilts long                                
  positions                             17,047     89,156      18,473
Settlement accounts                    914,868    201,603     215,628
Equity shares - long positions          60,416     24,459      36,549
Loans to money brokers against                              
  stock advanced                        58,881    102,654      55,523
Equity shares - investments             25,498     14,842      19,345
Intangible fixed assets - goodwill      48,519      1,385       1,083
Tangible fixed assets                   18,278     10,532      12,560
Other assets                            43,637     25,117      27,884
Prepayments and accrued income          20,399      9,200       9,004
                                      ________   ________    ________
Total assets                         2,880,469  1,664,760   1,701,718
_____________________________________________________________________
                                                            
Liabilities                                                 
Deposits by banks                       34,007     84,138      89,189
Customer accounts                      924,376    511,546     535,715
Bank loans and overdrafts              416,567    285,090     330,043
Debt securities in issue - loan                             
  notes                                 54,422     54,422      54,422
Debt securities in issue - gilts                            
  short positions                       18,942     78,404      20,297
Settlement accounts                    740,475    179,663     177,119
Equity shares - short positions         17,765      9,117      10,822
Loans from money brokers against                            
  stock advanced                        83,154    106,606      47,525
Other liabilities                      170,791     88,893     107,056
Accruals and deferred income            54,540     29,665      39,323
Subordinated loan capital               21,937     21,937      21,937
Minority interest - equity               4,997      2,229       2,111
                                      ________   ________    ________
                                                            
Total liabilities                    2,541,973  1,451,710   1,435,559
                                      ________   ________    ________
Shareholders' funds                                         
Called up share capital                 33,656     30,539      32,142
Share premium account                  184,262     94,650     138,879
Other reserves                               -      1,800           -
Profit and loss account                120,578     86,061      95,138
                                      ________   ________    ________
                                                            
Total equity shareholders' funds       338,496    213,050     266,159
                                      ________   ________    ________
                                                            
Total liabilities and shareholders'                         
  funds                              2,880,469  1,664,760   1,701,718
_____________________________________________________________________
                                                            
Memorandum items                                            
Contingent liabilities - guarantees      1,525        361         387
Commitments - other                    133,178     94,754     123,761


THE NOTES

1.   Basis of preparation

     The interim accounts, which are unaudited, have been prepared on the
     basis of the accounting policies set out in the 1999 group accounts.
     The figures shown for the full year ended 31st July, 1999 represent
     an abridged version of the full accounts of Close Brothers Group plc
     for that year, which have been filed with the Registrar of Companies
     and on which the auditors have given an unqualified report.

2.   Earnings per share

     The earnings per share in 2000, both on profits before amortisation
     of goodwill and exceptional items and on profit attributable to
     shareholders, is based on a weighted average of 131,714,000 ordinary
     shares in issue during the period (1999 - 120,601,000).  The diluted
     earnings per share is based on a weighted average of 132,782,000
     (1999 - 121,426,000) ordinary shares after allowing for the exercise
     of options under the sharesave and executive share option schemes.
________________________________________________________________________

INTERIM REVIEW REPORT TO CLOSE BROTHERS GROUP PLC

Introduction

We have been instructed by the company to review the financial
information set out on pages 4 and 5 and we have read the other
information contained in the interim report and considered whether it
contains any apparent misstatements or material inconsistencies with the
financial information.

Directors' responsibilities

The interim report, including the financial information contained
therein, is the responsibility of, and has been approved by, the
directors.  The Listing Rules of the London Stock Exchange require that
the accounting polices and presentation applied to the interim figures
should be consistent with those applied in preparing the preceding annual
accounts except where any changes, and the reasons for them, are
disclosed.

Review work performed

We conducted our review in accordance with guidance contained in Bulletin
1999/4 issued by the Auditing Practices Board.  A review consists
principally of making enquiries of group management and applying
analytical procedures to the financial information and underlying
financial data and based thereon, assessing whether the accounting
policies and presentation have been consistently applied unless otherwise
disclosed.  A review excludes audit procedures such as tests of controls
and verification of assets, liabilities and transactions.   It is
substantially less in scope than an audit performed in accordance with
Auditing Standards and therefore provides a lower level of assurance than
an audit. Accordingly, we do not express an audit opinion on the
financial information.

Review conclusion

On the basis of our review we are not aware of any material modifications
that should be made to the financial information as presented for the six
months ended 31st January, 2000.

Deloitte & Touche
Chartered Accountants

Hill House, 1 Little New Street, London, EC4A 3TR

6th March, 2000