Man Group Acquisition

Man Group plc
31 March 2008


31 March 2008

Acquisition of a 50 per cent interest in credit specialist Ore Hill

Man Group, one of the world's leading alternative investment firms, today
announces that it has entered into an agreement to acquire a 50 per cent
interest in Ore Hill, a major US-based credit specialist fund manager.

Simultaneously Ore Hill has entered into an agreement to acquire a 50 per cent
interest in Pemba Credit Advisers, the European credit manager subsidiary of Man
Group. The net consideration will comprise $195m in cash funded from the Group's
existing resources together with $40m in new Ordinary Man Group shares*.

Ore Hill, established in 2002, is headquartered in New York and has
approximately $3 billion funds under management. Pemba, with operations in
London and Switzerland has approximately $3.7 billion funds under management.

This development is part of Man's strategic plans to expand the range of its
investment products.  Ore Hill will be the platform to develop a leading
multi-strategy credit business globally. Combining Ore Hill's track record with
Man Group's unrivalled market reach will create significant value for both
investors and shareholders.

Ore Hill's principals will invest the majority of the net proceeds received by
them in a combination of Ore Hill funds and Man Group shares, in each case
committed for five years.

Ben Nickoll and Fritz Wahl, Ore Hill's co-founders and managing partners, will
be the managing partners of the enlarged global business, while Pemba's Mark
Mink will lead the European operations.

Peter Clarke, CEO of Man Group said: 'This transaction represents a further
development in Man's strategy of continuing to expand the range of product
opportunities for our investors. The credit environment is one of significant
opportunity and the combination of Man's global franchise, together with Ore
Hill's track record and expertise, will create a substantial global credit firm
as well as the platform from which we will develop a world leading
multi-strategy credit business.'

*Based on Man Group's closing share price on 28 March 2008.

Enquiries

Man Group plc                    020 7144 1000
Kevin Hayes
David Browne

Merlin
Paul Farrow                      020 7653 6620
Paul Downes                      07900 244888
Lachlan Johnston                 07989 304356

About Man Group plc
Man Group plc is a leading global provider of alternative investment products
and solutions for private and institutional investors worldwide, designed to
deliver absolute returns with a low correlation to equity and bond market
benchmarks. Man has a 20-year track record in this field supported by strong
product development and structuring skills, and an extensive investor service
and global distribution network.

The Group employs 1,600 people in 13 countries, with key centres in London and
Pfaeffikon, and offices in Chicago, Dubai, Hong Kong, Montevideo, Nassau, New
York, Singapore, Sydney, Tokyo and Toronto.  Man Group plc is listed on the
London Stock Exchange (EMG) and is a constituent of the FTSE 100 Index. Further
information on the Man Group can be found at www.mangroupplc.com

About Ore Hill
Ore Hill is an experienced hedge fund manager that trades across the capital
structures of highly leveraged companies using a multi-strategy approach
designed to optimize returns across the full credit cycle.
Founded in 2002, Ore Hill currently manages about $3 billion.

About Pemba Credit Advisers
Pemba Credit Advisers is one of Man Investments' core single managers.
Pemba is an experienced European leveraged finance manager based in Switzerland
and London with about $3.7 billion in assets under management.




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