MF Global Announces Price Range for its Initial Public Offering

    NEW YORK, June 21 /CNW/ - MF Global Ltd. (currently operating through Man
Financial Ltd, Man Financial Inc. and other subsidiaries of Man Group plc)
today filed with the U.S. Securities and Exchange Commission (SEC) an
amendment to its registration statement on Form F-1 for the initial public
offering of its common shares. The estimated price range for the initial
public offering is $36 to $39.

    Man Group plc (LSE:EMG) currently plans to offer 97.4 million common
shares of MF Global, representing approximately 80% of the outstanding share
capital. Man Group has also granted the underwriters an option to purchase up
to 9.7 million additional common shares of MF Global in the offering.

    On March 30, 2007 Man Group announced its intention to separate Man
Financial, its brokerage business, through an initial public offering. Man
Financial will be renamed MF Global upon completion of the separation and IPO.
MF Global's common shares have been approved for listing on the New York Stock
Exchange under the ticker symbol "MF."

    Citi, JPMorgan, Lehman Brothers, Merrill Lynch & Co. and UBS Investment
Bank are serving as joint book-running managers for the offering. The joint
lead managers are Credit Suisse, Deutsche Bank Securities, Goldman, Sachs &
Co. and Morgan Stanley. Other co-managers include ABN AMRO Rothschild LLC,
Banc Of America Securities LLC, BMO Capital Markets, HSBC, Keefe, Bruyette &
Woods, Sandler O'Neill + Partners, L.P., and Wachovia Securities. Lazard is
acting as a financial advisor to MF Global in the matter.

    The offering will be made only by means of a prospectus. Copies of the
preliminary prospectus may be obtained by contacting any of the joint
book-running managers whose contact information is listed below.(*)

    A registration statement relating to these securities has been filed with
the SEC but has not yet become effective. These securities may not be sold nor
may offers to buy be accepted prior to the time the registration statement
becomes effective. This press release shall not constitute an offer to sell or
the solicitation of any offer to buy, nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
such state.

    About MF Global

    MF Global, currently operating through Man Financial Ltd, Man Financial
Inc. and other subsidiaries of Man Group plc, is the leading broker of
exchange-listed futures and options in the world, providing execution and
clearing services for exchange-traded and over-the-counter derivative
products, as well as for non-derivative foreign exchange products and
securities in the cash market.

    MF Global has offices in Bermuda, New York, London, Chicago, Paris,
Mumbai, Singapore, Sydney, Toronto, Tokyo, Hong Kong, Taipei, Dubai, and other

    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 4,000 people in 16 countries, with key centres in
London, Pfaeffikon (Switzerland), Chicago and New York. Man Group plc is
listed on the London Stock Exchange (LSE:EMG) and is a constituent of the FTSE
100 Index. Further information on the Man Group can be found at

    (*)Copies of the written preliminary prospectus related to the offering may
be obtained by contacting any of the following joint book-running managers:

    Citigroup Global Markets Inc.
    Brooklyn Army Terminal
    140 58th Street, 8th Floor
    Brooklyn, N.Y. 11220
    Phone: (718) 765-6732

    J.P. Morgan Securities Inc.
    4 Chase Metrotech Center, CS Level
    Brooklyn, NY 11245
    Attention: Chase Distribution & Support Service Northeast
    Statement Processing
    Phone: (718) 242-8002

    Lehman Brothers Inc.
    c/o Broadridge Integrated Distribution Services
    1155 Long Island Avenue
    Edgewood, NY 11717
    Fax: (631) 254-7268

    Merrill Lynch, Pierce, Fenner & Smith Incorporated
    4 World Financial Center, 5th floor
    New York, NY 10080
    Phone: (212) 449-1000

    UBS Investment Bank
    Attention: Prospectus Department
    299 Park Avenue
    New York, New York 10171
    Phone: (212) 821-3000

For further information:

For further information: MF Global Ltd. Jeremy Skule, +1-212-319-1253 or Diana DeSocio, +1-212-589-6282

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