Return of Cash

Man Group plc
03 December 2007


   RETURN OF CASH - SETTING OF STERLING EQUIVALENT AND REDEMPTION OF B SHARES

Return of Cash - Update

Man Group plc (the 'Company') is pleased to provide an update in respect of the
Return of Cash to Shareholders.

Setting of Sterling Equivalent

Today, the Sterling Equivalent of the US$1.40 return per Existing Ordinary Share
was set in respect of C Shares issued under the Dividend Alternative and B
Shares issued under the Immediate Capital Alternative.

The exchange rate at which sterling has been purchased with US$ for spot value
applicable to the Dividend Alternative and the Immediate Capital Alternative is
£/US$2.0649. This exchange rate is the WM/Reuters mid spot £/US$ exchange rate
at today's 11 a.m. (London time) fixing. Consequently, Shareholders will receive
67.7999 pence in cash for each B Share and/or C Share that they hold as issued
under the Dividend Alternative and/or the Immediate Capital Alternative.

The proceeds under the Dividend Alternative and the Immediate Capital
Alternative are expected to be sent to Shareholders by 10 December 2007.

Redemption of B Shares under Immediate Capital Alternative

Today, the Company redeemed 868,609,694 B Shares (being those B Shares issued
pursuant to the Immediate Capital Alternative) for US$1.40 per B Share. The
Sterling Equivalent of the redemption proceeds, being 67.7999 pence per B Share
and £588,916,503.92 in aggregate, is expected to be sent to Shareholders by 10
December 2007.

Following this redemption, 47,689,017 B Shares issued under the Deferred Capital
Alternative remain in issue.

Single Dividend

Today, being the First Effective Date, the Single Dividend has become payable on
the C Shares and consequently the C Shares issued under the Dividend Alternative
have automatically reclassified as Deferred Shares.

An expected timetable of key outstanding events in relation to the Return of
Cash is set out as the Appendix to this announcement.

Defined terms in this announcement bear the meanings as set out in the circular
to Shareholders dated 22 October 2007 unless stated otherwise.

Merrill Lynch International, which is authorised and regulated by the Financial
Services Authority, is acting exclusively for Man Group plc and no one else in
connection with the proposed Return of Cash and will not be responsible to
anyone other than Man Group plc for providing the protections afforded to
clients of Merrill Lynch International or for providing advice in relation to
the Return of Cash.

Enquiries:
Man Group plc 020 7144 1000
Peter Clarke
David Browne

Merlin           020 7653 6620
Paul Downes      07900 244888
Lachlan Johnston 07989 304356

About Man Group plc

Man Group plc is a leading global provider of alternative investment products
and solutions for private and institutional investors worldwide, designed to
deliver absolute returns with a low correlation to equity and bond market
benchmarks. Man has a twenty-year track record in this field supported by strong
product development and structuring skills, and an extensive investor service
and global distribution network.

The Group employs 1,600 people in 13 countries, with key centres in London and
Pfaffikon (Switzerland), and offices in Chicago, Dubai, Hong Kong, Montevideo,
Nassau, New York, Singapore, Sydney, Tokyo and Toronto. Man Group plc is listed
on the London Stock Exchange (EMG) and is a constituent of the FTSE 100 Index.
Further information on the Man Group can be found at www.mangroupplc.com and
www.maninvestments.com.

                                    APPENDIX
                  EXPECTED TIMETABLE OF KEY OUTSTANDING EVENTS

Despatch of share certificates in respect of New Ordinary Shares By 6 December
and B Shares issued under the Deferred Capital Alternative and   2007
despatch of cheques and CREST accounts credited in respect of
fractional entitlements
Despatch of cheques or payment by BACS to mandated accounts in   By 10 December
respect of the Dividend Alternative                              2007
Despatch of cheques and CREST accounts credited in respect of    By 10 December
the Immediate Capital Alternative                                2007
Redemption of B Shares under the Deferred Capital Alternative    Between 1 July
expected to take place                                           2008 and 7 July
                                                                 2008

Note: References to times in this announcement are to London times. If any of
the above times or dates should change, the revised times and/or dates will be
notified to Shareholders by an announcement on a Regulatory Information Service.



                      This information is provided by RNS
            The company news service from the London Stock Exchange