Board appointment

Board Appointment at Intermediate Capital Group PLC (ICG)           

Thursday 3rd October, 2002

Intermediate Capital Group PLC, the leading specialist European provider of
mezzanine finance, announces the appointment of Paul Piper to the main ICG
Board as an Executive Director with immediate effect.

Paul, who was part of the original team of ICG at the time of it's foundation
in 1989, is head of the UK mezzanine group and has been a member of ICG's
Investment Committee for a number of years. Prior to ICG, Paul worked for ten
years at Chemical Bank, latterly in the acquisition finance department in
London.

Tom Bartlam, Managing Director of ICG said:

'I'm delighted to welcome Paul to the main Board. We believe his many years of
experience of the mezzanine market will further strengthen our Board.'

Enquiries

Tom Bartlam                Intermediate Capital Group 020 7628 9898            
                                                                               
Tricia Parish/Kate Newton  Brunswick                  020 7404 5959            

In accordance with Chapter 16.4 of the Listing Rules, no further details are
required to be disclosed under paragraph 6.F2 (b) to (g).

Note to Editors

ICG plc is the leading specialist provider of mezzanine finance in Europe.
Founded in 1989, it was successfully floated in 1994. ICG's principal business
is to arrange and provide intermediate, or mezzanine, capital for European
companies. ICG lends from both it s own resources and third party funds under
management. ICG also has a fast growing debt fund management business.