Change to Board of Directors of New Chief Exec

Old Mutual PLC
30 June 2000


                     OLD MUTUAL PLC

 Appointment of new Chief Executive, Financial Services

The  Board  of Old Mutual plc is pleased to announce  the
appointment of Eric Anstee to the newly created  post  of
Chief  Executive, Financial Services, with responsibility
for  the  Group's  rapidly growing asset  management  and
related  businesses.  He takes up  the  appointment  with
immediate effect.

Eric Anstee was previously Group Finance Director and  is
a  member of the Group Executive Committee of Old Mutual.
An announcement of the appointment of a new Group Finance
Director to replace him will be made shortly.

Mike Levett, Chairman of the Board, commented:

'Eric  Anstee  has made an enormous contribution  to  Old
Mutual as Group Finance Director and played a key role in
our  successful  demutualisation and listing  last  year.
Since the start of this year he has also led negotiations
on  a  number  of  transactions to expand  our  business,
especially in the areas of financial services and  global
asset management.

'In  March we completed the acquisition of Gerrard  Group
plc in the UK; and recently we announced our intention to
launch  an  agreed $2.2 billion tender offer  for  United
Asset  Management  Corporation. It has been  planned  for
some  time  that  Eric would move on to  take  full  time
responsibility  for  these  businesses  as  well  as  our
existing asset management businesses. I am pleased to  be
able to confirm his role in the newly-created position of
Chief Executive, Financial Services.'

                                                         
ENQUIRIES:

Old  Mutual  plc                 Tel: [phone]
James Poole, Director of Corporate Communications

College  Hill                   Tel: +44  (0)20  74572020
Gareth David
email:[e-mail]


NOTES TO EDITORS:


1.  Eric  E  Anstee, FCA, joined the Board in July  1999.
    He  has  been  Group Finance Director of  Old  Mutual
    Group   since  November  1998,  and  was   previously
    Finance  Director of The Energy Group PLC, which  was
    acquired by Texas Utilities in 1998.

    Prior  to  that  he  was Group  Finance  Director  of
    Eastern  Group  plc  between 1993  and  1995  on  its
    acquisition  by Hanson plc.  Before joining  Eastern,
    he  was  a  senior partner with Ernst & Young  and  a
    member  of  the  Management Board of  the  Management
    Constancy arm.

    He  is  a  member of the Accounting Standards Board's
    Urgent  Issues Task Force and a member of the  Senate
    of  Institute of Chartered Accountants in  England  &
    Wales.


2.  On  19 June Old Mutual announced the acquisition  via
    a  public  tender  offer of United  Asset  Management
    Corporation,  quoted on the NYSE,  and  headquartered
    in  Boston  USA.   The purchase price  on  completion
    will be $1.46 billion.

    UAM  has  $188  billion  in assets  under  management
    managed  through 42 affiliate companies in 34  cities
    throughout the world.  Group companies operate 60 No-
    load Mutual Funds (Unit Trusts).


3.  On  31 March, Old Mutual completed the acquisition of
    Gerrard  Group plc, announced 18 January  2000.   The
    agreed  cash  bid  valued Gerrard  at  £525  million.
    Gerrard  Group  comprises  the  stockbroking,   asset
    management, and corporate finance business  of  Greig
    Middleton;  the  derivatives and  specialised  equity
    products  company  GNI Ltd, and the  wholesale  money
    market treasury and banking operations of G&K Ltd

    Following  the acquisition Old Mutual Group  had  £27
    billion  in funds under management in the UK.  On  10
    May  Old Mutual announced the formation of Old Mutual
    Securities  incorporating the corporate  finance  and
    corporate  broking activities of Albert E  Sharp  and
    Greig Middleton.


4.  On  24 January Mr Jim H Sutcliffe joined the board of
    Old    Mutual   as   Chief   Executive,   Life   with
    responsibility for the Group's Life Assurance  world-
    wide.