AMG Announces Share Repurchase Program.

Business/Technology Editors

BOSTON--(BUSINESS WIRE)--April 20, 2000

Affiliated Managers Group, Inc. (NYSE: AMG), an asset management holding company, today reported that its Board of Directors had authorized a share repurchase program pursuant to which AMG could repurchase up to five percent of AMG's issued and outstanding shares of common stock. This program is in addition to the earlier repurchase program under which the purchase of five percent was authorized and substantially completed by the Company.

The manner and timing of purchases and the amount of stock purchased would be determined at the discretion of AMG's management.

William J. Nutt, AMG's Chairman and CEO, said, "We are confident in AMG's ability to continue executing both components of our growth strategy - the internal growth of existing Affiliates and growth through investments in new Affiliates. Our strong cash flow from operations and our credit facility provide us with substantial financial capacity to repurchase shares when we think it appropriate while continuing to grow our business." Mr. Nutt continued, "We believe that extending the share repurchase program authorized last October will enable us to continue enhancing shareholder value."

AMG addresses the succession and transition issues facing the principals of growing mid-sized investment management firms. AMG's innovative transaction structure allows individual members of each Affiliate's management to retain or receive significant direct ownership in their firm while maintaining operating autonomy. In addition, AMG provides centralized assistance to its Affiliates in strategic matters, marketing, distribution, product development, and operations. To date, AMG has made investments in 15 Affiliates, which collectively managed over $90 billion in assets at March 31, 2000.

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including changes in the securities or financial markets or in general economic conditions, the availability of equity and debt financing, competition for acquisitions of interests in investment management firms, and other risks detailed from time to time in AMG's filings with the Securities and Exchange Commission. Reference is hereby made to the "Cautionary Statements" set forth in the Company's Form 10-K for the year ended December 31, 1999.

For more information on Affiliated Managers Group, please visit AMG's web site at www.amg.com