Close Brothers Group today announces the appointment of Jonathan Sieff as Chief Executive of Close Asset Management Holdings Limited ("Close Investments"). He will take-up his position before 1 June 2003.

Jonathan takes over from Colin Keogh who was appointed Group Chief Executive in November 2002.

Jonathan (37) joins from Gerrard Limited where he had been Executive Director, Products and Services and responsible for overall strategy. He was also head of Gerrard Private Bank, the offshore private banking business. Previously Jonathan worked for Old Mutual Corporate Development where he had particular responsibility for developing its global private client asset management businesses acquiring and developing a range of wealth management and asset management businesses.

Close Investments offers a range of specialist products and services delivered by small, highly incentivised management teams offering retail and institutional fund management products both 'on and offshore'. Grouped into seven areas of activity and trading under a range of well-established brand names this model eschews the current vogue for cross-selling and integrated marketing.

Colin Keogh, Group Chief Executive, commenting on the appointment said:
"Close Investments has a unique structure aimed at offering clients specialist investment products and advisory expertise. Jonathan has considerable experience running asset management operations and his skills will prove invaluable as we continue to develop our business in terms of client service, investment performance and our range of innovative products."

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

Visit Close Investments at www.closeinvestments.com