Dividend Currency Conversion

Old Mutual PLC
08 October 2004


                         Interim Dividend 2004 (No. 10)

                              Currency Conversion



In the interim results announcement by Old Mutual plc for the six months ended
30 June 2004 published on 10 August 2004, the company announced an interim
dividend of 1.75p per share or its equivalent in other currencies of payment
using the exchange rates prevailing on 7 October 2004.


The local currency equivalents of the dividend have now been established and are
as follows:

South Africa           20.54 South African cents per share
Malawi                 3.3060 Malawi Kwacha per share
Namibia                20.54 Namibian cents per share
Zimbabwe               175.1833 Zimbabwean dollars per share


The interim dividend will be paid on 30 November 2004.


The record date for this dividend payment is the close of business on Friday, 22
October 2004 for all the Exchanges where the Company's shares are listed. The
last day to trade cum-dividend on the JSE Securities Exchange South Africa
('JSE') and other African Exchanges will be Friday, 15 October 2004. The shares
will trade ex-dividend from the opening of business on Monday, 18 October 2004
on the JSE and the other African Exchanges and from the opening of business on
Wednesday, 20 October 2004 on the London Stock Exchange.


Share certificates may not be dematerialised or rematerialised on the South
African branch register between Monday, 18 October and Friday, 22 October 2004,
both dates inclusive, and transfers between the registers may not take place
during that period.



                                                                  8 October 2004



Enquiries:


Old Mutual plc UK
Miranda Bellord             [phone]


Old Mutual plc SA
Nad Pillay                    [phone]







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