Directorate Change

Close Brothers Group PLC
25 July 2003


                            CLOSE BROTHERS GROUP plc

                                 BOARD CHANGES


Close Brothers Group plc  today announces the retirement from the Group Board,
with effect from 31st July 2003, of David Hardisty, founder of Close Asset
Finance and David Macnamara, joint chief executive of Winterflood Securities
Limited (WINS) and an alternate director of the Group Board.

David Hardisty joined Close Brothers in 1987 to set up our asset finance
business and was appointed a director in 1995.  He will act as a consultant to
Close Asset Finance Limited until 2007.

David Macnamara,  who joined Close Brothers in 1993 and who in 2002 was
appointed as alternate to WINS joint chief executive, Mike Hines, will continue
his executive duties at WINS.

Close Brothers has also appointed Mike Barley and Richard Grainger to the
Management Board.

Mike Barley succeeds David Hardisty as chief executive of our Asset Finance
Division and is also responsible for the Motor Finance and Military Services
businesses.  He joined Close Brothers in 1999 from Abbey National and was
previously Chief Executive of Wagon Finance.

Richard Grainger is chief executive of Close Brothers Corporate Finance Limited.
He joined Hill Samuel in 1987 and Close Brothers in 1996.

Colin Keogh, chief executive of Close Brothers Group said:

"David Hardisty and David Macnamara have each made a very considerable
contribution to the success of Close Brothers.  The Board thanks them for their
wise counsel over the years.

Mike Barley and Richard Grainger bring considerable experience to the Management
Board and will be invaluable in supporting the executive directors in the
development of the Group."


Enquiries to:


Colin Keogh                 Close Brothers Group plc              020 7426 4000

Rupert Young                Brunswick Group Limited               020 7404 5959

                                                                  25th July 2003




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