Director's Interests

Old Mutual PLC
12 May 2004

                                 OLD MUTUAL PLC

                            ISIN CODE: GB0007389926
                                SHARE CODE: OML
                               ISSUER CODE: OLOML


                       Directors' interests in securities


Old Mutual plc (the 'Company') has been informed by notifications received
yesterday of the following changes (with effect from 10 May 2004) in interests
of directors of the Company in shares in its 52%-owned South African banking
subsidiary, Nedcor Limited ('Nedcor'). In each case these have resulted from the
director concerned taking up his rights under Nedcor's rights issue:



•   Mr M J Levett, Chairman of the Company, has subscribed for an
    additional 5,375 shares at R45.00 per share, resulting in his total 
    shareholding in Nedcor increasing to 17,804 shares;

•   Mr W A M Clewlow, a non-executive Director of the Company and Chairman
    of Nedcor, has subscribed for an additional 833 shares at R45.00 per share,
    resulting in his total shareholding in Nedcor increasing to 2,849 shares; 
    and

•   Mr C F Liebenberg, a non-executive Director of the Company, has
    subscribed for an additional 13,109 shares at R45.00 per share, resulting 
    in his total shareholding in Nedcor increasing to 44,816 shares.



                                                                    12 May 2004


Enquiries

James Poole ([phone])
Director, Corporate Affairs
Old Mutual plc








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