Man : Announces Closing of Pine Grove Asset Management Acquisition

London and New York, 4th August 2014 - Man Group plc ("Man Group") today announced that is has closed the previously announced acquisition of Pine Grove Asset Management LLC ("Pine Grove"), a US-based fund of hedge fund manager specializing in the management of credit-focused hedge fund portfolios with approximately $1.0 billion of assets under management. The close of the transaction further enhances Man Group's presence in the US and adds to Man Group's fund of hedge funds business, FRM. Pine Grove will also reinforce FRM's efforts to offer clients a wide variety of

investment opportunities including SEC-registered US 40 Act funds and complementary fund of hedge fund products.

Pine Grove is a credit-focused fund of hedge fund manager, founded in 1994. Since inception, the firm's hedge fund selections and portfolio management have delivered attractive risk-adjusted returns across market cycles. Approximately two thirds of Pine Grove's assets are from institutional investors, primarily US-based, with the remaining third from US high net worth individuals and family offices.

As a result of the transaction close, Matthew Stadtmauer, formerly President of Pine Grove has become President of FRM. Tom Williams, Pine Grove's Chief Investment Officer will continue to be responsible for all investment decisions relating to Pine Grove's portfolios and will join FRM's Investment Executive committee.

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Fiona Smart

Head of Investor Relations

+44 20 7144 2030 fiona.smart@man.com

Rosanna Konarzewski

Global Head of Communications

+44 20 7144 2078 media@man.com

UK

RLM Finsbury

Ryan O'Keeffe/Chris Ryall mangroup@RLMFinsbury.com

+44 20 7251 3801

US

Prosek Partners

Brian Schaffer/Caroline Harris-Gibson bschaffer@prosek.com/cgibson@prosek.com

+1 212 279 3115

Man is a leading alternative investment management business with a diverse offering in hedge funds and long only products across equity, credit, managed futures, convertibles, emerging markets, global macro and multi-manager solutions. At 30 June 2014, Man managed $57.7 billion. The original business was founded in 1783. Today, Man is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index with a market capitalisation of around £2.1 billion. Man also supports many awards, charities and initiatives around the world, including sponsoring the Man Booker literary prizes. Further information can be found at www.man.com.

Founded in 1991 and joining Man Group in 2012, FRM is one of the largest independent European based alternatives specialists, with $11.5 billion of assets under management. With a predominantly institutional client base, FRM is responsible for open-architecture hedge fund and alpha strategy solutions, including fund of hedge funds, client advisory solutions, outsourced research, and consulting. It runs the largest and most extensive buy-side managed account platform in the world, with 49 research and investment staff1 in offices located in London, New York, Tokyo, Guernsey and Switzerland.

FRM has an investment driven culture with a focus on maximising risk-adjusted returns through a dynamic investment process combining bottom-up global research and top-down macro views. Dedicated to working closely with clients to offer insights, knowledge transfer and customer solutions, FRM is focused on delivering investment solutions which optimise resources to meet investor's wide reaching needs.

This article (the "Article") is provided for information only and is not intended to be, and must not alone be taken as, the basis for an investment decision. The information contained in this Article is selective and is for illustrative purposes only and is not a recommendation or solicitation for any person in any jurisdiction to invest in any products or services that are or may be offered by Man. Readers should consult their own legal, financial and tax advisors regarding the implications for them of any financial investment. There can be no assurance that any of the products or services offered by Man will be able to achieve objectives or that investors will receive a return of the amount invested. Investment in any fund is subject to significant risks of loss of income and capital. Past performance is not a guide to future performance and the value of investments and the income derived from those investments can go down as well as up.
This Article should not be treated as constituting any representation in connection with any offer or invitation, nor shall it or any part of it form the basis of or be relied upon in any way in connection with any contract.

This document contains forward-looking statements with respect to the financial condition, results and business of Man Group plc. By their nature, forward looking statements involve risk and uncertainty and there may be subsequent variations to estimates. Man Group plc's actual future results may differ materially from the results expressed or implied in these forward- looking statements.
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Nothing in this announcement should be construed as or is intended to be a solicitation for or an offer to provide investment advisory services.
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UK/14/0728-P

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As at 31 March 2014

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