Product Launch

Man Group PLC
27 January 2003


Man Group plc

January 27th, 2003

Man Group plc launches first US registered fund

Man Group plc, the global provider of alternative investment products and
futures broker, today announces the launch of the Company's first registered
fund of hedge fund investment vehicle in the United States for qualified US
individual investors.

The fund is sponsored by Glenwood Capital Investments, L.L.C., which also acts
as the fund's investment manager.  Man Investments Inc., a US subsidiary of Man
Group plc, is the fund's primary distributor.  The new fund will provide
qualified US investors with access to the portfolio of an already established
multi-strategy fund of hedge funds which has a nine year track record.  The fund
is the first in a series of registered investment products Man Group plc
anticipates launching in the US tailored to private clients.

The fund is a closed-end investment company that uses a fund of hedge funds
investment strategy with an aim to preserve capital and generate attractive
returns that have low correlation with traditional stock and bond markets.
Established in 1987, Glenwood Capital Investments advises approximately US$5
billion dollars of institutional/private client assets worldwide on a
discretionary and non-discretionary basis and is a wholly owned subsidiary of
Man Group plc.  Glenwood Capital Investments is registered as an investment
adviser with the US Securities and Exchange Commission, as a commodity trading
advisor and commodity pool operator with the US Commodity Futures Trading
Commission and is a member of the National Futures Association.

Stanley Fink, Chief Executive of Man Group plc said 'This is Man's first
registered hedge fund product targeted at US private clients.  With its long
attractive track record, Man-Glenwood Lexington, LLC is a most impressive
product for this debut.  We have a high degree of confidence that it will
generate significant investor interest over the next two to three years as our
products have done in many other countries around the world.'

Man Investment Products, the asset management arm of Man Group plc, has been at
the forefront of the alternative investment industry for almost two decades.
Established in 1983, it has successfully launched more than 200 alternative
investment products, many with leading financial institutions, and manages
around US$ 23.1 billion (as reported on October 31, 2002).  It has offices in
Bahrain, Chicago, Dubai, Hong Kong, London, Montevideo, Tokyo and Switzerland.

                                    - Ends -



Enquiries


Man Group plc             020 7285 3000
Peter Clarke
David Browne

Merlin Financial          020 7606 1244
Paul Lockstone

US Media Contacts:
Walek and Associates      [phone]
Armel Leslie



About Man Group plc

Man Group plc is a leading global provider of alternative investment products as
well as one of the world's largest futures brokers. The Group employs over 1,900
people in 15 countries, with key centres in London, Pfaffikon (Switzerland),
Chicago, New York, Paris, Singapore and Sydney. Man Group plc was listed on the
London Stock Exchange (EMG.L) in 1994 and is a constituent of the FTSE 100
index. Further information on the Man Group can be found at www.mangroupplc.com.
As stated in the interim statement on 7 November 2002, funds under management at
the end of October were estimated at US$23.1 billion.



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