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:
Colin Keogh, Close Brothers Group plc - 020 7426 4000
Rupert Young, Brunswick Group Limited - 020 7404 5959