Successful Product Launch

Man Group PLC
24 October 2001



                                                            October 2001

                                Man Group plc


                     Record US$460 million product launch


Man Group plc ('Man Group'), the international hedge fund manager and futures
broker, today announces that its latest global launch, Man IP 220 Plus (Series
4) Limited, has raised the equivalent of over US$460 million in its two series
(Euro and US dollar denominated). This is ahead of Series 3, the previous
record launch, which closed in June after raising $430m.

Man-IP 220 Plus (Series 4) is based on the same successful structure used by
the earlier products in the series, namely a diversified portfolio made up of
the AHL Diversified Programme ('AHL') and Man-Glenwood. AHL manages a
diversified portfolio of international financial, currency and commodity
instruments, investing in around 100 global markets while Man-Glenwood
allocates money to a broad range of hedge fund strategies via carefully
selected managers. Series 4 will achieve further diversification through a
carefully selected range of complementary investment strategies.

Stanley Fink, Chief Executive of the Man Group, today said:

 'The high level of demand seen for Man Group's latest fund launch illustrates
the growing investor awareness of the attractions of alternative investment
products and follows on from three highly successful product launches since
our year end in March. The strong momentum in sales demonstrates the
attractiveness of Man Group's product range, which remains underpinned by the
combination of the Group's product structuring skills and the long-term track
record of its principal managers.'

The Man IP 220 Plus (Series 4) aims to generate substantial medium-term
capital appreciation which will not depend on the positive performance of
stock or bond markets, or other assets. In addition to benefiting from a
capital guarantee from ABN AMRO Bank N.V., there is a profit lock-in feature
that may raise that guarantee level.

The offering closed on 19 October and is expected to start making initial
investments in November. The next global launch of a structured product will
be Man Multi Strategy Series 3, which is planned for early November.


Enquiries

Man Group plc
Peter Clarke                                      020 7285 3000
David Browne

Gavin Anderson & Company
Lindsey Harrison                                  020 7457 2345
Victoria Seaton


Notes to Editors

About Man IP 220 Plus (Series 4) Limited

Man Investment Products launched Man IP 220 Plus (Series 4) Limited on 27
August 2001. The issuance was offered as two classes of bonds, one denominated
in US dollars and one denominated in Euros targeting returns of 18-20% and
17-19% respectively whilst aiming to restrict the associated level of risk.
The guarantee assures the return of at least the initial investment to
investors at maturity, being March 2012 for US dollar Bonds and March 2013 for
Euro Bonds. The Man IP 220 and 220 Plus family of structured products was
launched in 1996 with further product launches in each subsequent year.


About Man Group

Man Group is a leading provider of structured hedge fund products as well as
one of the world's largest futures brokers. The Group employs over 1,500
people in 11 countries, with key centres in London, Switzerland, New York and
Chicago.  Man Group plc was listed on the London Stock Exchange (EMG.L) in
1994 and is a member of the FTSE 100 index. Further information on Man Group
can be found at www.mangroupplc.com.

As stated on 20 September 2001, funds under management then totaled over
US$8.5 billion. A statement updating the current level of funds under
management will be made in the interim results, which will be released on
Thursday 8 November 2001.