Close Brothers Corporate Finance (CBCF) has taken an equity stake in Eidos Partners (Eidos), an Italian corporate finance house based in Milan. The deal demonstrates CBCF's continued commitment to developing its Europe-wide network of leading local corporate finance houses and its emphasis on sourcing and executing cross border opportunities for its clients.

CBCF believes Eidos is an excellent partner for the Italian market, as both firms share a common culture and a focus on the independent advisory model.

Eidos was established in 2003 by a group of senior corporate financiers from Schroders / Schroder Salomon Smith Barney. The Company is majority owned by its management, with a minority stake being held by Finanziaria Canova, an Italian financial institution whose shareholders include a number of Italy's leading industrial families.

The transaction will occur through a capital increase reserved to CBCF which will be approved by an extraordinary general meeting of Eidos' shareholders

in March, 2004. Subsequent to the capital increase, Eidos Partners will be 63% owned by its staff, 27% by Finanziaria Canova and 10% by CBCF. As part of the transaction CBCF will take a seat on Eidos' Board.

Commenting on the deal, Richard Grainger, Chief Executive of Close Brothers Corporate Finance said:

"We are delighted to have found a firm of Eidos' quality to work with. We believe Italy will continue to grow in importance in mid-market, cross-border M&A activity over the coming years, as well as offering opportunities for our market-leading restructuring practice. As the Italian corporate market becomes increasingly alert to the dangers and conflicts involved in the integrated banking model, we believe there is a very exciting opportunity for this combination of two high calibre independent advisory firms to build a significant presence on the Italian corporate finance landscape."

Marco Forasassi Torresani, Chief Executive of Eidos Partners, commented:

"The agreement with Close Brothers strengthens our competitive positioning in Italy as an independent advisory company which seeks to combine the highest standards of quality and business ethics with a model providing for the absence of the conflicts of interest typical in integrated banks. Our alliance enables our clients to count on the resources of a strong international network which can better assist them in realising their international ambitions."

For further information please contact:

Close Brothers Corporate Finance - 00 44 (0) 20 7655 3100
Richard Grainger, Chief Executive
Simon Willis, Director
Justin Clark, PR Manager