AMG Completes Its Investment in Genesis Asset Managers.

BOSTON -- Affiliated Managers Group, Inc. (NYSE: AMG) has completed its previously announced investment in Genesis Asset Managers. AMG has acquired a 60% equity interest in Genesis, with the remaining 40% held by a broad group of Genesis' management, who will continue to oversee the operations of the firm.

Genesis is a premier investment manager of emerging markets equity securities with offices in London, Guernsey, Kenya, Chile and Brazil. The firm manages approximately $7.3 billion in assets through separate account and commingled portfolios for more than 80 clients, including institutions in the United States, Europe and Australia. Genesis employs a bottom-up research and stock selection process with the aim of achieving capital growth for its clients over the medium to long-term, while mitigating country risk through extensive geographical diversification.

AMG is an asset management company with equity investments in a diverse group of mid-sized investment management firms. AMG's strategy is to generate growth through the internal growth of its existing Affiliates, as well as through investments in new Affiliates. AMG's innovative transaction structure allows individual members of each Affiliate's management team to retain or receive significant direct equity 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. Including Genesis, AMG's affiliated investment management firms managed approximately $103 billion in assets at March 31, 2004.

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, the investment performance of our Affiliates and their ability to effectively market their investment strategies, 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, 2003.

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