Dividend Declaration

Old Mutual PLC
25 February 2002





                            OLD MUTUAL PLC



               Final Dividend for the year ended 31 December 2001





The Directors of Old Mutual plc are proposing a final dividend for the year
ended 31 December 2001 of 3.1p per share (making a total of 4.8p for the year).



The record date for this dividend payment is the close of business on 19 April
2002 for all the exchanges where Old Mutual plc's shares are listed.



The Last Day to Trade cum-dividend on the JSE and other African Exchanges will
be the close of business on Friday 12 April 2002. The shares will trade
ex-dividend from the opening of business on 15 April 2002 for the JSE Securities
Exchange and other African Exchanges and on 17 April 2002 for the London Stock
Exchange.



The local currency equivalents of the proposed dividend for shareholders on the
South Africa, Malawi and Zimbabwe branch registers and the Namibia section of
the principal register will be determined using the exchange rates prevailing on
4 April 2002 and will be announced by the Company on 5 April 2002.



The final dividend is subject to approval at the Annual General Meeting of Old
Mutual plc on 17 May 2002.  The final dividend will be paid on 31 May 2002.



                                                                25 February 2002





Enquiries:


Old Mutual plc, London:                                Tel: + 44 (0)20 7569 0100
James Poole, Director of Investor Relations

or South Africa:                                       Tel:  [phone]
Bruce Allen, Group Media Relations

College Hill, London                                   Tel: [phone]
Tony Friend                                            Tel: + 44 (0)20 7457 2020







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