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The College Retirement Equities Fund ("CREF") hereby informs you that on July 24, 2012 , CREF holds 11,184,132
shares of Man Group Plc. CREF owns these shares through two of its investment accounts, the Global Equities Account and Stock Account. It is our understanding the total voting shares outstanding of Man Group Plc are 1,820,560,383 bringing CREF's ownership in your company to a 0.614% level.
For your information, CREF is a U.S. based investment company, which is registered with the Securities and Exchange
Commission ("SEC"). CREF has multiple investment accounts, each with separate investment objectives and policies. All assets in the accounts are beneficially owned by CREF, and all the accounts are managed by TIAA-CREF Investment Management, LLC, an SEC registered investment adviser.
Additionally, on July 24, 2012 affiliates of CREF sold some of its shares of Man Group Plc, bringing its total holdings
in your company to 33,435,742 shares. These holdings are owned by the TIAA-CREF Funds ("Funds"), and the TIAA-CREF Life Funds ("Life Funds"), each of which are SEC registered investment companies. The Funds and Life Funds are managed by Teachers Advisors, Inc., an SEC registered investment adviser that is affiliated with TIAA-CREF Investment Management, LLC. These affiliated funds, aggregated with those of CREF, own a total of less than 3% of the outstanding voting shares of your company. Because Teachers Advisors, Inc. and TIAA-CREF Investment Management, LLC follow the same policies when voting these funds, we are aggregating the holdings for purposes of this letter.
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