Annual General Meeting

10 Jul 2002

At the Annual General Meeting of 3i Group plc held today, Baroness Hogg, Chairman of 3i, made the following comment:

"Since the year end, we have seen an active first quarter although there remains a high degree of general business uncertainty as demonstrated in recent weeks by the significant fall in the stock markets."

Brian Larcombe, the Chief Executive, made the following comments:

"In the first quarter we, together with our co-investment funds, invested £240m and there were total realisations of £389m. We have planned for higher activity levels in the year ahead and for provisions and failures to be lower than in the past year. I think this will prove to be a good time to be investing and we have the network and the financial strength to do so. This has been a challenging year in which we've managed many changes to strengthen our business. It is in good shape and we have seen some evidence of improved conditions since the year end."

For information please contact:

Liz Hewitt - Director of Corporate Affairs -  020 7975 3283
Philip Gawith - The Maitland Consultancy -  020 7379 5151