Pre-Close Trading Update

Man Group PLC
27 March 2003


27 March 2003


Pre-Close Trading Update

Man Group plc announces the following trading update ahead of its close period
for the year ending 31 March 2003.

It is anticipated that the Group's results for the year ending 31 March 2003
will be significantly ahead of current market expectations.  Sales have
continued to be strong throughout the year, and are estimated to be
approximately $6.0bn (see footnote 1 below), of which $1.8bn were made by RMF
post acquisition.

Reflecting the level of sales and good product performance, funds under
management have risen strongly and are currently estimated to be in excess of
$25bn (see footnote 2 below), including $11.2bn in RMF.

Overall, Group profit before tax, goodwill and exceptional items for the year
ending 31 March 2003 is anticipated to be over 15% ahead of the current market
consensus forecast (see footnote 3 below), despite an adverse currency
translation impact of over £20m. The principal driver behind the outperformance
is the achievement of higher than forecast performance fees in the last quarter
of the year.  Net performance fee income for the year is estimated to be over
twice last year's level.  In line with market consensus, net management fee
income will be up by around 50% on last year.  Brokerage income (before goodwill
and exceptional costs relating to the integration of GNI) is expected to be
ahead of last year by at least 20%.  As a result, fully diluted underlying
earnings per share (represented by earnings from net management fee income plus
brokerage net income) are expected to be up over 25%, in line with market
expectations.

The integration of RMF has now been substantially completed and the integration
of GNI is well advanced.  Both these acquisitions have made a positive
contribution to current year operating profit before goodwill amortisation.

Man Group will announce its preliminary results for the financial year on 22 May
2003.


Note 1:
The sales figures do not include the latest launch, Man Multi-Strategy Series 5,
which will close on 31 March 2003.  Whilst sales of this product are progressing
well, the exact figure for the launch will not be known until early April.

Note 2:
The funds under management figure does not include the acquisition of Westport,
which is expected to complete in April.

Note 3:
The market consensus figure referred to earlier in this announcement is based on
forecasts of profit before tax, goodwill and exceptionals provided to Man Group
by nine UK equity analysts since the Group's interim results in November 2002.
They range between £260m and £337m, with the consensus, calculated as the
average, being £290m.



Enquiries

Man Group plc                         020 7285 3000
Peter Clarke
David Browne

Merlin Financial
Paul Lockstone                        07876 685200
Vanessa Maydon                        020 7606 1244




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 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 Man Group can be found
at www.mangroupplc.com.



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