Man Group raises USD365m in latest product launch

Notes and media contacts

Issued by Gulf Hill and Knowlton on behalf of Man Investment Products. For further information, please contact Randa Mazzawi on Tel: (+9714) 3344930 or Fax (+9714) 3344923/3344917/3360692.

About the Product

Man Multi-Strategy Series 4 Ltd closed on 13 December 2002 and is expected to start making initial investments from the middle of January 2003. Series 4 will target medium-term annualised growth of around 15% for each Class of Bond while aiming to restrict volatility to around 10%. Series 4 provides investors with access to a diversified portfolio of investment strategies implemented by a number of carefully selected advisers. The ability of the Man Multi-Strategy portfolio to generate returns and protect investors' capital during difficult market conditions for traditional assets has been highlighted by the performance of Man Multi-Strategy Guaranteed Limited, the first product in the family. As at 30 November 2002, Man Multi-Strategy Guaranteed Limited had outperformed traditional investments, producing an annualised return of 11.5% since inception on 15 July 2000 - compared to -17.4% for world stocks and 7.0% for world bonds over the same period.

What separates this product from the previous products in the Man Multi-Strategy family of products is an enhanced principal protection structure - Series 4 guarantees investors a return of at least 120% of the Face Value of their initial investment at maturity in December 2014. This enhanced level of principal protection will take the form of Capital Guarantees provided by Royal Bank of Scotland plc. Series 4 is also the first product in the original Man Multi-Strategy 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 the Guarantor, The Royal Bank of Scotland plc.

The Royal Bank of Scotland plc is a leading UK-based bank with a Aa1 senior debt rating from Moody's.

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 over 1,900 people in 15 countries, with key centres in London, Pfäffikon (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 the Man Group can be found at www.mangroupplc.com. As stated in the interim statement on 7 November 2002, funds under management at the end of October were estimated at $23.1 billion.