Promus I successful closing

Intermediate Capital Group PLC
3 October 2001

For Immediate Release
3rd October, 2001

                                  PROMUS I
                       Managed by Intermediate Capital Group

Intermediate Capital Group PLC ('ICG') is delighted to announce the successful
closing of its first Leveraged Loan Fund ('Promus I') at Euro 450 million.
Promus will invest primarily in European leveraged loans (senior secured debt),
but will have the flexibility to invest in mezzanine and high yield bonds.

Promus I is the first structured fund of its kind and is designed to provide
flexibility to the investment adviser (ICG) which is superior to that of
current European CDO structures.  Low initial leverage and a long ramp-up
period means that ICG, and not the structure, drives the investment process and
the timing of investment decisions.  This is critical in a volatile market
dependent to a large degree on the primary new issuer pipeline.

It is expected that the Fund will, over the next two to three years, make over
50 loans at an average size of c. Euro 10 million.  ICG will be able to invest
in Leveraged Loans through out Europe denominated in multiple currencies.

Fund investors who provided Euro 56.3 million of equity represent a broad range
of UK and Continental European institutional investors.  The Fund is capable of
applying leverage to grow to a total size of Euro 450 million over the expected
accumulation period of two to four years.  Leverage is initially provided by a
ten year Euro 140 million revolving credit facility provided by a small
syndicate of banks.  Over time, the facility can be refinanced through the
issuance of investment grade term notes, then redrawn and refinanced until the
fund is fully invested.

Tom Attwood, Managing Director or ICG, commented

'In this difficult market it is essential to ensure that new products expand
investors' choice of asset class, with quantifiable risk and reward, as well as
flexibility within the fund itself.  This Fund, with over Euro 300 million of
uninvested liquidity, will be excellently positioned to take advantage of the
improved pricing and financial structures that we are experiencing in this
uncertain market.'

The ICG Promus I Fund was raised by JP Morgan and rated by Fitch. Ashurst
Morris Crisp provided legal advice.

Promus represents the third structured Debt and Loan Fund raised by ICG over
the last two years.  ICG, the leading provider of mezzanine in Europe, is the
largest specialist sub-investment grade credit asset manager in Europe, with
over Euro 2 billion of third party funds under management and 30 investment
professionals.

Tom Attwood    Intermediate Capital Group Plc     [phone]
Andrew Phillips
Sara Halbard
Gill Ackers    Brunswick Group Ltd.               [phone]
Simon Sporborg
Eileen Darko   JPMorgan Securities Limited        [phone]
Matthew Salvner                                   [phone]