Long Term Incentive Plan

MAM FUNDS PLC ("the Company")

LONG TERM INCENTIVE PLAN

MAM Funds plc ('MMF'), the AIM quoted fund management company, announces that it has today arranged for the sale and purchase of 139,982 ordinary 0.1p shares ("shares") in the Company. The shares were held by two subsidiaries of the Company and were being held for use should the Company need to satisfy the exercise of options to subscribe for shares by employees.

The shares have been sold at a mid market price of 33.5p per share to the Trustees of the Company's Long Term Incentive Plan ("LTIP"), which was approved by shareholders on 27 September 2006. The Trustees of the LTIP will be recommended to use the shares to satisfy the exercise of options issued under the LTIP.

The above transactions are deemed by the Directors to be an efficient use of existing issued shares and do not change the number of issued ordinary shares in the Company. The Company's issued share capital will continue to comprise 145,618,308 ordinary shares, with voting rights. The figure of 145,618,308 shares should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

For further information, please contact:

Ian Dighé, Chairman, MAM Funds 07785 703261

James Steel, Director, Arbuthnot Securities 020 7012 2100

Antonio Bossi, Director, Arbuthnot Securities 020 7012 2116

Web: www.mamfundsplc.com