Pre-Close and Quarterly FUM

Man Group plc
30 March 2005


Man Group plc

30 March 2005

Pre-Close Trading Update and Quarterly Funds Under Management Statement

Man Group plc, the global provider of alternative investment products and agency
brokerage, announces the following Trading Update and Quarterly Funds Under
Management Statement ahead of its close period for the year ending 31 March
2005.

It is anticipated that Group pre-tax profits* for the year ending 31 March 2005
will be at least in line with the top end of market expectations.

Sales have continued to be strong throughout the year, and are estimated to be
$11.9 billion, split 51% private client product and 49% institutional product.
Sales for the three months to 31 March 2005 are estimated at $1.5 billion. The
three months sales comprised institutional sales of $0.3 billion, joint ventures
(including a major Japanese product) of $0.8 billion, Man's global launch, Man
AP Enhanced Series 1, which accounted for $0.2 billion and other private
investor sales, mainly relating to open-ended funds, which accounted for $0.2
billion. The most recent global launch, Man AP Enhanced Series 2 Ltd, will not
close until April - it is therefore not included in the figures for this period.

Reflecting the level of sales, funds under management have risen and are
currently estimated to be around $43 billion, up from $37.8 billion at 31 March
2004 (see footnote below) and after taking into account the maturity of a major
legacy account at RMF. The split of funds under management is private investor
$25 billion (31 March 2004: $21.5 billion) and institutional $18 billion (31
March 2004: $16.3 billion). Redemptions were $4.2 billion which, as a percentage
of funds under management, remain at the low end of long term experience.
Included in this figure are redemptions for the three months to 31 March 2005
totalling $0.9 billion, of which private investor were $0.4 billion.

Net management fee income* will be above market expectations, up by around 25%,
reflecting the increased level of funds under management. Further performance
fees have been earned by most of our managers in the second half of the year,
including AHL, RMF and Glenwood. Net performance fee income* for the year will
be at the top end of market expectations although it will be materially below
the level of last year, reflecting a smaller contribution from AHL.

Brokerage net income* will be up over 15% due to continued organic growth,
underpinned by a diversified product offering and a wide geographical presence
across all key markets. This result also reflects the continued development of
matched principal business and further successful recruitment of producer teams,
allowing the business to leverage off the existing infrastructure and client
base.

As a result, fully diluted underlying earnings per share** are expected to be up
about 20%.

Man Group will announce its preliminary results for the financial year on 26 May
2005.

* Before goodwill amortisation and exceptional items.
** Underlying earnings represents earnings from net management fee income in
Asset Management plus Brokerage net income (it therefore excludes net
performance fee income in Asset Management, goodwill amortisation and
exceptional items).
Note: The funds under management figures exclude $0.7 billion relating to
Westport, where Man has reduced its majority shareholding to less than 50%.
Note: The current market expectations of Group net management fee income and
total pre tax profits referred to earlier in this announcement are based on
forecasts of profit before tax, goodwill and exceptionals provided to Man Group
by ten UK equity analysts since the Group's interim results in November 2004. 
The consensus, calculated as the average, for net management fee income is 
$560 million and for total pre tax profits is $769 million.



Enquiries
Man Group plc         020 7144 1000
Peter Clarke
David Browne

Merlin Financial      020 7653 6620
Vanessa Maydon
Lachlan Johnston

Notes to Editors

About Man Group plc

Man Group plc is a leading global provider of alternative investment products
and solutions as well as one of the world's largest futures brokers. The Group
employs over 2,800 people in 15 countries, with key centres in London, Pfaffikon
(Switzerland), Chicago, New York, Paris, Singapore and Sydney. Man Group plc is
listed on the London Stock Exchange (EMG.L) and is a constituent of the FTSE 100
index. Further information on the Man Group can be found at www.mangroupplc.com.



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