Man Investments raises record USD740 million in latest product launch

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About the Product
Man AP Unison Series 1 Ltd closed on 23 June 2003 and is expected to start making initial investments from the beginning of July. The investment objective for Man AP Unison is to achieve consistent medium-term capital gains. It will target annualised growth of around 14-16% for an annualised volatility of around 8-10% for both USD and EUR class bonds.

A defining feature of Man AP Unison will be its conservative risk-adjusted target returns. It represents a new addition to Man Investments' AP family of products, which includes Man-AP Stratum and Man AP Strategic, and will continue the AP family's conservative investment theme. As at 31 May 2003, Man-AP Stratum Ltd has achieved annualised growth of 19.9% for an annualised volatility of 16.1%, since its inception on 22 October 1999. In addition, Man AP Strategic Series 1 Ltd, the first Man AP Strategic series of products, has achieved, an annualised return of 21.9% for an annualised volatility of 13.0% since the inception of the USD denominated bonds on 18 April 2002.

The Man AP Unison portfolio will consist of strategic allocations to arbitrage, equity hedge, long/short equities, directional and managed futures investment styles. Exposure to each of these styles will be obtained through allocations to portfolios that harness the investment skills of carefully selected complementary managers. The managers in each 'style portfolio' focus on the exploitation of particular market inefficiencies and profit opportunities. The style portfolios have distinctive risk/reward characteristics and their performance profiles highlight complementary strengths in varying market environments and conditions.

Although comprising the same AP family, Man AP Unison will differ from the Man-AP Stratum and Man AP Strategic products by providing greater diversification. The portfolio tilt is designed to reinforce Man AP Unison's emphasis on generating robust growth across different market environments. Man AP Unison will also enjoy the benefit of capital guarantees provided by WestLB AG, which ensure investors the return of at least 100% of their initial investment at maturity on 30 November 2015, as well as a potential profit lock-in feature. WestLB AG is one of the leading providers of financial services in Germany with total assets of more than EUR 260 billion. As an internationally operating commercial bank, it maintains branches, representative offices and subsidiaries in over 30 countries and employs approximately 8,700 people around the world, about 3,500 of whom work outside Germany (as at December 31, 2002).

About Man Global Strategies Diversified Ltd
Man Global Strategies Diversified Ltd ('Man Global Strategies Diversified') is the latest product to apply the extensive knowledge and experience of the Man Global Strategies' investment committee. Man Global Strategies Diversified aims to generate consistent returns for a conservative level of volatility using appropriately weighted exposures to hedge fund style portfolios. The USD and EUR class bonds will both target annualised growth of around 13-15% for an annualised volatility of around 7-8%.

The Man Global Strategies Diversified portfolio will consist of strategic allocations to arbitrage, directional, equity hedge long/short equities and managed futures which have distinct return and risk characteristics. The portfolio will differ from earlier products by providing access to a wider range of managers and strategies that give even greater diversification for lower volatility, while still providing the clear advantages of principal protection, profit lock-in and increased investment exposure.

ABOUT MAN
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, Pfäffikon (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.

Man Investments, the Asset Management division, is a global leader in the fast growing alternative investment industry. It provides innovative products and tailor made solutions for private and institutional clients. Through its core investment managers - AHL, Glenwood, Man Global Strategies and RMF - Man has succeeded in developing strengths in hedge funds, private equity, leveraged finance and convertible bonds. In the hedge fund asset class, which is the major part of the business today, Man offers funds of hedge funds, structured, style and single manager products. Its track record stretches back two decades and defines the standard for excellence in an industry whose central goal is to provide diversification away from traditional equity and bond investments. Man has a powerful global presence and an extensive network of distribution partners.

Man Financial, the Brokerage division, is one of the world's leading providers of brokerage services. It acts as a broker of futures, options and other equity derivatives for both institutional and private clients and an intermediary in the world's metals, energy and foreign exchange markets with offices in key financial centres. Man has consistently achieved a leading position on the world's largest futures and options exchanges, with particular strengths in financial futures and the energy markets.