Product Launch

Man Group PLC
17 October 2002

Man Group plc
17 October 2002


Man Group raises record $670 million in latest product launch.

Man Group plc, the international hedge fund manager and futures broker, today
announces that its most recent global launch, Man IP 220 Series 4 Ltd ('Series 
4') has raised over $670 million of client money, a record for any single 
product offering.

The issue is the latest in a series of Man IP 220 style products that have
delivered impressive risk adjusted returns to investors. The original Man IP 220
product has achieved an annualised net return of 19.4% since inception in
December 1996.

Man IP 220 Series 4 carries a capital guarantee from Lloyds TSB Bank to return
at least 120% of subscribers initial investment at maturity.  The structured
product, offered in two currency classes (Euros and US dollars), will comprise
investment exposure to the Man-AHL Diversified Programme and the Man-Glenwood
Portfolio.

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

'This latest record product launch demonstrates the continued ability of the Man
Group to structure and distribute products with enormous appeal to investors
internationally.  Man Group's latest investment offering attracted a high level
of demand due to its performance potential, backed by an impressive track
record, and its low correlation with equity markets. This is an extremely
attractive investment opportunity combining a capital guarantee arrangement that
provides for the return of 120% of initial capital, with access to the portfolio
diversification benefits of alternative investments.  This further sales success
will increase assets under management and underpin continued significant growth
in management fees.'

The next global launch of a structured product will be Man Multi Strategy Series
4 Ltd, which will be open for investment on 28 October 2002.

Enquiries


Man Group plc                                               020 7285 3000
Peter Clarke
David Browne

Gavin Anderson                                              020 7554 1400
Chris Salt
Lindsey Harrison

Notes to Editors

About the Product

Man IP 220 Series 4 Ltd closed on 11 October 2002 and is expected to start
making initial investments by the end of October. Man IP 220 Series 4 Ltd ('
Series 4') is the first product offered by Man to guarantee investors the return
of at least 120% of their initial investment at maturity. This enhanced level of
principal protection will take the form of Capital Guarantees provided by Lloyds
TSB Bank plc. Series 4, which was offered in both US$-Class and Euro-Class
Bonds, targets medium-term annualised growth of around 17-18% for each Class of
Bond while aiming to restrict volatility to around 14-15%.

The Man IP 220 concept has proved to be one of Man's most successful product
structures. The original Man IP 220 product has achieved an annualised net
return of 18.8% since inception in December 1996. Like its predecessors, Series
4 provides investors with access to two of Man's most successful investment
approaches, the Man-AHL Diversified Programme and the Man-Glenwood Portfolio.
What distinguishes Series 4 from the previous Man-IP 220 products is a unique
principal protection arrangement. Series 4 will be the first product launched by
Man to offer investors the return of at least 120% of their initial investment
upon maturity - 30 November 2013 in respect of the US$-Class Bonds and 30
November 2014 in respect of the Euro-Class Bonds - subject to the terms and
conditions of the Guarantees.

Series 4 is also the first product in the original Man IP 220 family to include
provisions for a profit lock-in feature. This allows for the 'locking-in' of a
portion of net new trading profits following periods of sustained profitability
for Series 4, potentially elevating the guarantee levels at maturity. The
operation of this feature is subject to the discretion of the investment manager
and the prior approval of Lloyds TSB Bank plc.

The Guarantor, Lloyds TSB Bank plc is the only major shareholder owned bank in
the world with a 'triple A' rating. It is part of Lloyds TSB Group plc, a
leading UK based financial services group, which offers a comprehensive range of
banking, and financial services in the UK and overseas. With over 81,000
employees worldwide, the Group has a substantial network covering the Americas,
New Zealand and Europe with over 2,300 branches across the UK offering a full
range of banking and financial services to over 16 million customers.

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 around
1,800 people in 15 countries, with key centres in London, Switzerland, New York,
Chicago, Paris and Singapore. 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 AGM statement on 10 July 2002, funds under management at that date were
estimated at $21 billion.




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