Trading Statement

Man Group plc
25 March 2004


25 March 2004

Pre-Close Trading Update

Man Group plc ('Man Group'), the global provider of alternative investment
products and futures broker, announces the following trading update ahead of its
close period for the year ending 31 March 2004.

It is anticipated that Group pre-tax profits* for the year ending 31 March 2004
will be materially in excess of current market expectations. This result has
been achieved despite the adverse impact of currency translation on reported
year-on-year sterling profits.

Sales have continued to be very strong throughout the year, and are estimated to
be around $10.5 billion. Reflecting the level of sales and good product 
performance, funds under management have risen strongly and are currently
estimated to be around $38 billion, up from $26.1 billion at 31 March 2003.
These figures do not include the latest launch, Man RMF Multi-Style Ltd, 
which will close within the next few weeks.

Net management fee income** will be at the top end of market expectations, up by
over 45%, reflecting the increased level of funds under management. Net
performance fee income** will be materially ahead of last year and significantly
above market expectations. Brokerage net income** (before goodwill and
exceptional costs relating to the integration of GNI) will be at the top end of
market expectations, up over 40% reflecting the continued recruitment of
producer teams, active markets and the successful integration of GNI, which has
now been completed. 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 35%, which is the top end of market
expectations.

Man Group will announce its preliminary results for the financial year on 20 May
2004.

* Before goodwill amortisation and exceptional costs
** Before goodwill amortisation

Note:
The current market expectations of Group 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 2003. They range between £397 million and 
£452 million with the consensus, calculated as the average, being £425 million.

Enquiries
Man Group plc 020 7144 1000
Peter Clarke
David Browne

Merlin Financial 020 7653 6620
Paul Downes
Paul Lockstone
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 2,500 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 Man Group can be found at
www.mangroupplc.com




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