Appointment

3i Group PLC
17 May 2001

                                 3i Group plc


                         Appointment of new Chairman




17th 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.


                                     End




For further enquiries:

Brian Larcombe, Chief Executive                       Tel: [phone]
3i Group plc
Liz Hewitt, Director Corporate Affairs                Tel: [phone]
3i Group plc
Philip Gawith,                                        Tel: [phone]

The Maitland Consultancy