Man Investments launches MGS Diversified Opportunities Ltd

Notes and media contacts

Please see www.maninvestmentsgloballaunch.com for a multimedia presentation outlining the key product characteristics. MGS Diversified Opportunities Ltd will be available to investors from 2 May 2005 to 13 June 2005.5

For further information, please contact:
Charlotte van den Berg-Nelson
Communications
Man Investments, Switzerland
Tel. +41 (0) 55 417 62 60

PR Agency
Randa Mazzawi
Gulf, Hill & Knowlton
Tel. +971 433 449 30

About Man Investments
Man Investments, the asset management division of Man Group plc, is a global leader in the fast growing alternative investments industry. It provides innovative products and tailor-made solutions to private and institutional investors. Through its core investment managers - AHL, Glenwood, Man Global Strategies and RMF - Man Investments has succeeded in developing leadership in hedge funds and has interests in other asset classes. In its core hedge fund asset class, Man offers funds of hedge funds, structured and style products. Its track record stretches back more than 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 with central operations in Pfäffikon (Switzerland) and London and key centres in Chicago, Montevideo, Hong Kong, Sydney, Tokyo and Dubai and has an extensive network of distribution partners. Further information on Man Investments can be found on the internet at www.maninvestments.com.

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 2,800 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. Further information on Man Group can be found at www.mangroupplc.com

Important Information:
This material is communicated Man Investments Limited which is regulated in the conduct of its investment activities in the UK by the FSA. The rules and regulations made under the Financial Services and Markets Act 2000 for the protection of investors may not apply to regulated activities conducted outside the UK. Man Investments Limited and/or any associates may invest in MGS Diversified Opportunities Ltd. Man Financial Limited, an associated company of Man Investments Limited, is the futures and foreign exchange broker to MGS Diversified Opportunities Ltd.1There is no guarantee of trading performance and past performance is no indication of current or future performance/results. Return and volatility figures quoted are targets and are based on an analysis of the combined performance projections of the investment strategies that might typically be deployed by the investment styles with the anticipated investment exposures and upon the current assumption of a 4%(bonds) and 3.5% (shares) average risk-free rate over the life of MGS Diversified Opportunities Ltd and therefore are subject to change. Performance for each class of bonds/shares may differ. The performance data does not take account of the commissions and/or costs incurred on the issue and/or redemption of bonds/shares. With regard to the shares only, when a dividend is paid it will result in a commensurate decrease in the net asset value of the shares.2Subject to the terms and conditions of the relevant deed of guarantee. Only bonds that are outstanding on the maturity date or that have not been redeemed prior to the maturity date will have the benefit of the relevant bond guarantee. Collateral in USD, EUR and CHF secured in favour of Citibank, N.A. London Branch will be in the form of eligible collateral as described in the Prospectus. 3At the investment manager's discretion and subject to the prior written agreement of Citibank, N.A. London Branch and the terms and conditions of the relevant guarantee. The bond profit lock-in feature of each class of bonds will only be activated if the investment exposure of the relevant class of bonds reaches 150% of the prevailing net asset value in respect of the USD-class and EUR-class bonds and 120% in respect of the CHF-class bonds. 4An annual fixed dividend payment equal to 4% of the purchase price of each share outstanding at each dividend date, until and including 31 July 2009. For the remaining years, starting from 1 August 2009 until
and including the year prior to maturity of the shares, an annual discretionary performance dependent dividend will be considered for payment in respect of each share outstanding on each dividend date up to the prevailing respective 12 month LIBOR (USD) and EURIBOR (EUR) rate. 5With potential extension at the directors' discretion (share and bond classes) provided that any extension will require the prior written consent of the Citibank, N.A. London Branch (bond classes).

Information contained herein is provided from the Man database except where otherwise stated. Potential investors should note that alternative investments can involve significant risks and the value of an investment can go down as well as up. Movements in exchange rates between currencies may affect the value of an investment. This product may not be suitable for all persons. If in doubt, seek advice from your independent financial adviser.