Application for Add. Shares

Old Mutual PLC
26 June 2001



                                Old Mutual plc

          Applications for listing and trading of additional shares

Applications have today been made to the UK Listing Authority for the listing,
and to the London Stock Exchange for admission to trading, (in each case, on a
'when issued' basis) of an estimated 136,000,000 Ordinary Shares of 10p each
in Old Mutual plc (the 'Company'), which are to be issued credited as fully
paid upon completion of the acquisition by the Company of Fidelity and
Guaranty Life Insurance Company from the St Paul Group. Completion of that
acquisition, which was originally announced by the Company on 26 April 2001,
remains conditional upon regulatory clearances. These new shares, when issued,
will rank pari passu with the Company's existing Ordinary Shares in issue.

Applications are also being made for these shares to be admitted, when issued,
to listing on each of the four African stock exchanges where the Company's
shares are listed (namely the JSE Securities Exchange South Africa, the Malawi
Stock Exchange, the Namibian Stock Exchange and the Zimbabwe Stock Exchange).

                                                                  26 June 2001

ENQUIRIES:

Old Mutual plc                                        [phone]

Martin Murray, Group Company Secretary