Dividend Announcement

Old Mutual PLC
17 April 2001



                                OLD MUTUAL PLC

              Final Dividend for the year ended 31 December 2000

                             Currency Conversion


In the final results announcement of Old Mutual for the year ended 31 December
2000 published on 6 March 2001, the directors recommended a final dividend of
3.1p per share (making a total of 4.7p for the year).


The record date for this dividend payment is 20 April 2001 for all the
exchanges where Old Mutual shares are listed. The ex-dividend date is the
opening of business tomorrow, 18 April 2001 on all those exchanges.


The local currency equivalents of the proposed dividend have now been
established, using the exchange rates prevailing on 12 April 2001.


These dividends are as follows:

South Africa         35.77 South African cents per share
Malawi               3.5676 Malawi Kwacha per share
Namibia              35.77 Namibian cents per share
Zimbabwe             2.4625 Zimbabwean dollars per share


Subject to being approved by shareholders at the Annual General Meeting on 18
May 2001, the final dividend will be paid on 31 May 2001.

                                                                 17 April 2001

ENQUIRIES:

Old Mutual plc, London
                                                   Tel: + 44 20 7569 0100
James Poole, Director Investor Relations
College Hill, London
                                                   Tel: + 44 20 7457 2020
Nicholas Williams
College Hill, Johannesburg
                                                   Tel: + 27 11 447 3030
Linda Baker
Transfer Secretaries / Registrars

Computershare Services
                                                   Tel: [phone]
Bristol call centre:
Johannesburg call centre:                          Tel: [phone]