Further re Convertible Bond

Man Group PLC
07 November 2002


Not for distribution in or in to the United States, Canada, Japan and Australia

Man Group plc ('Man Group')

7 November 2002



Man Group plc successfully completes Convertible Bond Issue to raise £350
million.

Man Group plc announces that the terms for its £350 million convertible bonds
due 2009 (the 'Bonds') have been fixed as follows:

     • conversion price has been set at 1282 pence per share, which represents
       a 31.95 per cent premium over the VWAP reference price of 971.585 pence, 
       and

     • the cash coupon has been set at 3.75 per cent.

The deal was upsized from £325m by £25 million.

Application will be made for the Bonds to be admitted to the Official List of
the UK Listing Authority and to the London Stock Exchange plc for the Bonds to
be admitted to trading on the London Stock Exchange's market for listed
securities. The Bonds will be offered outside the United States in compliance
with Regulation S. Merrill Lynch International is acting as sole bookrunner and
lead manager. Credit Suisse First Boston is co-lead manager and ABN AMRO
Rothschild and HSBC are co-managers on this transaction.

In addition, Man Group has granted Merrill Lynch, on behalf of the Managers of
the offering, an over allotment option of up to £50 million of Bonds.



For further information please contact:

Man Group plc             020 7285 3000

Stanley Fink
Peter Clarke
David Browne

Merrill Lynch International        020 7995 2000

Rupert Hume-Kendall
Julian Kozerski
Peter Moorhouse
Richard Snow




STABILISATION/FSA

This press release has been issued by Man Group plc and has been approved for
the purposes of Section 21 of the Financial Services and Markets Act 2000 by
Merrill Lynch International. Merrill Lynch International is acting for Man Group
plc and no one else in connection with the offer of the Bonds and will not be
responsible to any other person for providing the protections afforded to their
respective clients, or for providing advice in relation to the proposed offer.

These materials are not an offer of securities for sale into the United States
or elsewhere.  The securities may not be offered or sold in the United States or
to, or for the account or benefit of, U.S. persons (as such terms is defined in
Regulation S under the U.S. Securities Act of 1933 as amended) unless they are
registered or exempt from registration.  There will be no public offer of
securities in the United States.

Not for distribution in or into the United States, Canada, Japan and Australia

ABN AMRO Rothschild is the unincorporated equity capital markets joint venture
between ABN AMRO Bank N.V. and N M Rothschild and Sons Limited ('Rothschild').
ABN AMRO Bank N.V. is regulated by the FSA for the conduct of investment
business in the U.K. Rothschild is regulated by the FSA.



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