Result of Equity Issue

RNS Number:3183R
Intermediate Capital Group PLC
27 October 2003

27 October 2003


Intermediate Capital Group PLC ("ICG")

Results of the Placing and Open Offer of New Ordinary Shares in ICG

On 2 October 2003, ICG announced details of a Placing and Open Offer of
9,176,804 New Ordinary Shares at a price of 915p per share.

ICG announces that the Open Offer closed on 24 October 2003. Valid acceptances
under the Open Offer have been received from Qualifying Shareholders in respect
of 8,941,920 New Ordinary Shares. This represents 97.4 per cent. of the New
Ordinary Shares offered pursuant to the Open Offer. 234,884 New Ordinary Shares,
representing 2.6 per cent. of the New Ordinary Shares offered pursuant to the
Open Offer, were not taken up by Qualifying Shareholders and these New Ordinary
Shares will be taken up by institutional investors under the Placing.

Cazenove & Co. Ltd acted as Sponsor, Lead Manager and Sole Bookrunner to the
Placing and Open Offer. HSBC Bank PLC acted as Co-Lead Manager and Joint Broker.

The New Ordinary Shares will be credited as fully paid and rank pari passu in
all respects with ICG's Existing Ordinary Shares, but shall not rank for the
interim dividend of 10.5p per share declared on 2 October 2003 for the six month
period ended 31 July 2003. Application has been made for the New Ordinary Shares
to be admitted to the Official List of the UK Listing Authority and to trading
on the London Stock Exchange's market for listed securities. It is expected that
Admission will become effective and dealings will commence at 8.00am on 27
October 2003.

Enquiries

ICG                                                     [phone]
Tom Bartlam
Managing Director

Cazenove                                            [phone]
Christopher Smith
Managing Director


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