4 August 2004, London - Close Brothers Corporate Finance (CBCF) has made a series of senior promotions that reflect the continued development of the business as well as the contribution people have made over the past year.

The promotions include appointing a further four directors to the Close Brothers Corporate Finance Board, an additional two assistant directors, as well as promotions at all other levels.

The new directors are:

Mark Barrow. Focuses on the leisure, retail and support services sectors. Transactions he has recently advised on include the 3i investment in Williams Lea; the disposal of Tom Cobleigh for Electra; the refinancing of McMullens; and the defence of De Vere Group.

Daniel Morland. Working in the CBCF Debt Advisory Group, Daniel has advised clients from numerous sectors on debt raising. Companies he has advised most recently include Paragon Healthcare, Enterprise Inns plc, and Logica/CMG.

Michael Parkinson. Responsible for all aspects the company's finance, IT and administration functions and is the company's Compliance Officer and Company Secretary.

David Riddell. Working in the CBCF Corporate Restructuring Group, David has recently been involved in the restructurings of a broad range of companies including: British Energy; Brunner Mond; Clubhaus; Drax; and Rhodia.

Commenting on the announcement, Richard Grainger, Chief Executive of CBCF said:

"I am delighted to welcome the four new directors to the Board. Close Brothers Corporate Finance has a strong team with an increasingly formidable presence in all areas of its business from debt advisory services and corporate restructuring to M&A advice across Europe. These promotions allow us to continue strengthening this position."

The promotions are in addition to the ongoing CBCF recruitment drive that has seen the company increase its number of professional staff by 10% since January 2004. It will continue to consider high quality staff to add to the team throughout 2004.

ENDS


For further information please contact:

Close Brothers Corporate Finance
Justin Clark
020 7655 3784

Citigate Dewe Rogerson
Alistair Kelly
020 7282 2920
Rebeca Denny
020 7282 2817

Notes to editors:

Close Brothers Corporate Finance (www.cbcf.com) operates as an autonomous and independent business unit within Close Brothers Group plc, the largest independently-listed UK investment bank. Headquartered in London, it operates internationally, employing more than 150 staff across Europe. Close Brothers Corporate Finance has a strong international reach through its offices in France, Germany, Spain and Italy and Close Associates, an affiliate network of independent corporate finance houses in all major financial centres across the globe.

Close Brothers offers independent corporate finance advice in three primary areas: Corporate Restructuring, Debt Advisory and mid-market Mergers and Acquisitions (up to £500 million).