Acqn/Chairman's Stmt., etc.

Man(ED & F) Group PLC
31 August 2000


                     E D & F Man Group plc ('Man Group')                      
                                                                              
            Acquisition and Annual General Meeting Trading Update             
                                                                              
                                                                              
         Acquisition of Glenwood, a leading US fund of funds manager          

Man Group, a world leader in the fast growing field of alternative investment
products, announces that on 31 August 2000 it entered into an agreement to
acquire Glenwood Capital Investments, LLC, and Glenwood Global Management, LLC
as well as the 40% stake in Man-Glenwood GmbH which it does not own already
(collectively 'Glenwood').

Glenwood is a leading alternative investment fund of funds manager based in
Chicago.  It has funds under management of $570 million within three funds
including its flagship US onshore fund, Glenwood Partners LP, which has been
operating since 1987. In addition, it manages $850 million for Man-Glenwood
that are distributed through Man Group.

The acquisition of the Glenwood Group will provide Man Group with the
following benefits:

- A strong brand name with an extensive track record;
- A dedicated US team of 22 persons with a wealth of knowledge and
  experience;
- A fund of funds management capability along with the methodology and
  infrastructure to manage up to 100 live investment management relationships;
- A live database of 3,500 managers;
- A platform to further diversify our existing investment management
  product range; and
- Additional funds under management along with full control of the joint
  venture funds.

In its audited consolidated accounts for the financial year ended 31 December
1999, the Glenwood Group reported pre-tax profits of $ 11.5 million (£7.9
million) with net assets being acquired of $11.4 million (£7.8 million).  Man
Group will acquire the Glenwood Group for a cash consideration of $110 million
(£75.6 million) to be met from the existing cash resources of Man Group. On
completion, the acquisition is expected to be immediately earnings enhancing
before goodwill amortisation. The transaction is subject to regulatory
consent, which, it is anticipated, will be obtained in early October.

Commenting on the acquisition, Stanley Fink, Chief Executive of Man Group,
said:

'I am delighted that we have reached agreement for the purchase of Glenwood.
We have been partners in the Man-Glenwood joint venture since 1995 and have
come to know and respect the Glenwood team. There is an excellent strategic
fit between Glenwood's fund of funds and US expertise and Man Group's
international distribution network and product development experience. The
combination should allow us to leverage the strengths of both organisations to
the substantial benefit of our clients, both current and prospective.'

Annual General Meeting, Current Trading Update

At today's Annual General Meeting, Harvey McGrath, Man Group Chairman, will
say:

'In Asset Management, we continue to see good demand for our recent product
launches and sales are running in line with expectations.  Glenwood's fund
performance has been stable over the period since year-end and is currently at
incentive fee highs.  In common with other systematic futures fund managers,
performance of many of our AHL products has been negative since year-end,
reflecting the lack of clear direction in many of the markets that they trade,
although August has seen positive performance.  Accordingly, whilst recurring
management fee income in the first half is expected to show improvement over
the prior year, performance-related income in the first half is likely to be
modest.

Our Brokerage business has performed well in the financial year to date,
reflecting its strong market presence and reasonably active markets,
particularly in Financial Futures, Energy and Securities.

In summary, the Board remains confident that the Group is on target to meet
its financial objectives.'

Man Group will be announcing its Interim Results for the six months ending 30
September 2000, on 2 November.

Enquiries

Man Group                                     020 7285 3000
Stanley Fink                                  
Peter Clarke                                  

Gavin Anderson                                020 7457 2345
Marc Popiolek                                 
Lindsey Harrison