Dividend Currency Conversion

Old Mutual PLC
5 April 2002

                                 OLD MUTUAL PLC

               Final Dividend for the year ended 31 December 2001
                              Currency Conversion

In the preliminary announcement by Old Mutual plc of its results for the year
ended 31 December 2001 published on 25 February 2002, the company announced a
recommended final dividend of 3.1p per share or its equivalent in other
currencies of payment.

The local currency equivalents of the proposed dividend have now been
established, using the exchange rates prevailing on 4 April 2002, as follows:

South Africa             50.05  South African cents per share
Malawi                   3.3495 Malawi Kwacha per share
Namibia                  50.05  Namibian cents per share
Zimbabwe                 2.4645 Zimbabwean dollars per share

Subject to being approved by shareholders at the Annual General Meeting on 17
May 2002, the final dividend will be paid on 31 May 2002.

The record date for this dividend payment is 19 April 2002 for all the exchanges
where Old Mutual shares are listed. The ex-dividend date on the London Stock
Exchange is the opening of business on Wednesday, 17 April 2002.

In accordance with the settlement procedures of STRATE, Old Mutual has
determined the last day for trading to participate in the final dividend to be
Friday, 12 April 2002 for shares traded through the JSE Securities Exchange
South Africa.  The ex-dividend date on the JSE Securities Exchange South Africa
and also on the Malawi, Namibian and Zimbabwe Stock Exchanges will be the
opening of business on Monday, 15 April 2002.

                                                                    5 April 2002


ENQUIRIES:

Old Mutual plc, London
Zoleka Mzimba                                   Tel: + 44 20 7569 0100

College Hill
London               Nicholas Williams          Tel: + 44 20 7457 2020
Johannesburg    Robyn Hunt                      Tel: + 27 11 447 3030

Transfer Secretaries / Registrars
Computershare Services
Bristol call centre:                            Tel: [phone]
Johannesburg call centre:                       Tel: [phone]


Nico Corporate Finance
Malawi call centre:                             Tel: + 265 623 856


Transfer Secretaries (Pty) Limited

Namibian call centre:                           Tel: + 264 61 227647


Corpserve (Private) Limited
Zimbabwe call centre:                           Tel: [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange