Director's share interests

Old Mutual PLC
24 January 2003

Old Mutual plc



Directors' share interests



Mr J H Sutcliffe, Chief Executive of Old Mutual plc ('the Company'), has today
had released to him under the terms of the Company's Restricted Share Plan
460,700 shares in the Company. The award of the restricted shares was made to Mr
Sutcliffe on 14 March 2000 on terms that the shares would be released to him on
the third anniversary of his appointment to the Board of the Company, which
anniversary fell today.



As the Company is currently in a closed period for the purposes of the Model
Code on Securities Dealing, Mr Sutcliffe has discharged the tax arising on the
release of these shares to him out of his own resources.



Following the above release of restricted shares, Mr Sutcliffe (together with
his connected persons, for the purposes of section 346 of the UK Companies Act
1985) now owns 673,178 shares in the Company.  He also has a contingent interest
in a further 254,131 shares in the Company under the terms of the Company's
Restricted Share Plan: these were awarded under bonus matching arrangements
applicable to the years ended 31 December 2000 and 2001, and their release is
subject to the fulfilment of performance conditions.



                                                                 24 January 2003



Enquiries


Old Mutual plc
James Poole, Director, Investor Relations                    [phone]




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