Directorate Change

News release

5th December 2011

MAM Funds plc director changes

MAM Funds plc (MAM), the AIM listed leading multi-asset fund management group, announces senior management changes.

Following the appointment of the new executive management team in February 2011, the board has created a new position covering both finance and operations, Group Finance Director & Director of Operations.

The board is pleased to announce the appointment of Robert Edwards Clarke in this role, with effect from 5th December, 2011. Robert has strong financial and operational experience gained through a variety of senior roles in the fund management arena. He was CEO of Witan Investment Trust plc from 2008 to 2010 and was previously with Majedie Investments PLC for 12 years, starting as Finance Director before becoming Chief Executive. Since qualifying as a Chartered Accountant in 1981, Robert has also held Finance Director roles with Hoare Govett Securities Ltd and Alwen Hough Johnson Ltd.

Tony Moore, Chief Financial Officer, will be stepping down from the board with effect from 5th December, 2011, and will work with Robert for a handover period into 2012. John Graham, who is currently the Chief Operating Officer, will also be stepping down from his position after a suitable handover in 2012. The board would like to thank both Tony and John for their dedicated service to MAM, particularly during the extensive restructuring of the business over the last few years, and wishes them both well for the future.

Ian Dighé, Executive Chairman, said: "I am delighted to welcome Robert to the board of MAM. He brings vast knowledge and expertise from his profession and has very relevant commercial experience. His skills will be invaluable as we seek to develop the business."

Robert Clarke said: "I believe that there is a great opportunity for MAM and I am really looking forward to working with my new colleagues to deliver shareholder value."

Rule 17 and Schedule Two, paragraph (g) of the AIM Rules disclosures:

Mr Clarke, 54, is currently a director of the following dormant company:

Cosmos Management Limited

In the last five years he has been a director of the following companies:

Majedie Investments PLC

Majedie Asset Management Limited

Majedie Investment Trust Management Limited

Majedie Portfolio Management Limited

Majedie Properties Limited

Majedie Securities Limited

Barlow Investments Limited

Barlow Service Company Limited

Witan Investment Trust Plc

Witan Investment Services Limited

Save for the information disclosed above there is no other information required to be

disclosed under Rule 17 and Schedule Two, paragraph (g) of the AIM Rules.

ENDS

For further information please contact:

Ian Dighé, Executive Chairman, MAM Funds plc Tel: +44 (0)118 338 4041

Gervais Williams, Managing Director, MAM Funds plc Tel: +44 (0)207 657 1181

Robert Clarke Tel: +44 (0)7766 688983

James Steel / Antonio Bossi, Arbuthnot Securities Tel: +44 (0)207 012 2000

Roland Cross/Zoe Butt, Broadgate Mainland Tel: +44 (0)207 726 6111/07831401309

Notes to editors

MAM Funds plc (MAM) is a leading multi-asset fund management specialist, incorporating the Midas Capital Partners and Miton Asset Management fund brands. Both companies are wholly owned subsidiaries of MAM.

Founded in 2001, MAM represents the combined talents and experience of Midas Capital Partners and Miton Asset Management. The group's fund management teams have a wealth of experience and have won numerous industry awards for their innovative investment processes and performance.

In 2004, MAM joined the Alternative Investment Market. Members of the fund management team invest in their own funds and are significant shareholders in the group MAM has offices in Liverpool, London and Reading.

www.mamfundsplc.com