Minority interest acquisition

Close Brothers Group PLC
16 October 2001

16 October 2001





                 Close Brothers Group plc ('Close Brothers')


                      Acquisition of minority interests



Close Brothers has today acquired 7,500 shares in Winterflood Securities from
Brian Winterflood pursuant to an existing shareholders' agreement entered into
at the time of the acquisition of Winterflood by Close Brothers.

This acquisition brings Close Brothers' shareholding in Winterflood to 99.9
per cent.. Close Brothers has acquired a total of 87,196 shares and options
over shares in Winterflood at total cost of £46.55m this year, which also
includes other acquisitions of shares from employees and directors under
similar arrangements.

Winterflood is the market-making division of Close Brothers, and specialises
in making markets in smaller capitalisation companies, as well as smaller
orders in a wide range of overseas stock, gilts and other sterling fixed
interest stocks. In the year ended 31 July 2001, Winterflood had profits
before tax of £27.4m and net assets of £50.5m. The acquisition will have no
material impact on the earnings of Close Brothers.