Director Shareholding

Old Mutual PLC
31 May 2002

                                 OLD MUTUAL PLC





                           Directors' share interests





The Company has been informed, by a notification received today, that Mr R C M
Laubscher, a director of the Company and Chief Executive of the Company's 53%
owned subsidiary, Nedcor Limited, has exercised the following share options over
ordinary shares of R1 each in Nedcor Limited:


No of Nedcor Limited shares acquired         Option price per share         Date of exercise


63,000                                       R58 per share                  29 May 2002
92,307                                       R1 per share                   31 May 2002





Following the above acquisition of a total of 155,307 shares, Mr Laubscher
(together with his connected persons, for the purposes of section 346 of the UK
Companies Act 1985) now owns 260,565 shares in Nedcor Limited (representing
approximately 0.1% of the total issued share capital of Nedcor Limited), 232,247
beneficially and 28,318 non-beneficially.  He also has various other outstanding
rights under the share incentive schemes of Nedcor Limited and of the Company,
as described in more detail in the Remuneration Report in the Company's report
and accounts for the year ended 31 December 2001.



31 May 2002





Enquiries

James Poole, Director Investor Relations ([phone])









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