Appointment of new Chairman

17 May 2001

3i Group plc announces that Sir George Russell, aged 65, non-executive Chairman of the Board of Directors since 1993 proposes to retire from the Board on 31 December 2001. 3i Group plc also announces that, with effect from the same date, Baroness Hogg, aged 55, will be appointed non-executive Chairman of the Board of Directors.

Sarah Hogg has been a non-executive Director of 3i Group plc since July 1997 and Deputy Chairman since July 2000. She is currently Chairman of the Audit and Compliance Committee of the Board of Directors and a member of the Remuneration Committee and the Valuations Committee.

Sarah Hogg is also Chairman of Frontier Economics and Foreign & Colonial Smaller Companies PLC, a director of GKN plc, Martin Currie Portfolio Investment Trust plc and P&O Princess Cruises plc, a member of the House of Lords Select Committee on Economic Affairs and a Governor of the BBC.