Chairman, Michael Morley, Dies

CLOSE BROTHERS GROUP PLC
25 October 1999

The Board of Close Brothers Group plc is sad to report the death of Michael
Morley, the Chairman of the Board, on 20th October 1999.

Michael was intimately associated with the Group for over 25 years and was
one of the original members of the management buy-out team of Close Brothers
from Consolidated Goldfields in 1979. Michael's contribution to Close
Brothers has been immeasurable and he has been a constant guiding hand behind
the Group's successful development. He will be long remembered and sorely
missed.

Sir David Scholey has been appointed Chairman of the Board with immediate
effect.