Appointment

Old Mutual PLC
10 August 2001


                                OLD MUTUAL PLC


New Chief Executive of Gerrard Limited


Old Mutual plc ('Old Mutual') has today announced that Mr Stephen Clark has
assumed the position of Acting Chief Executive of Gerrard Limited ('Gerrard')
following the resignation yesterday of Mr Clive Boothman.  Mr Clark was
formerly Deputy Chief Executive and Chief Operating Officer of Gerrard.

Eric Anstee, Chief Executive, Financial Services of Old Mutual and Chairman of
Gerrard, said:

'We have confidence that Stephen Clark and the management teams at Gerrard
will continue to drive the development of Gerrard going forward.  The
integration of the two groups of businesses that came together last year is
well advanced and proceeding on track. We would like to thank Clive Boothman
for his contribution to the company and wish him well for the future.'

10 August 2001


ENQUIRIES:

Old Mutual plc, London                           Tel: + 44 (0) 20 7569 0100
James Poole, Director Investor Relations

College Hill, London                             Tel: + 44 (0) 20 7457 2020
Tony Friend