Dividend Declaration

Old Mutual PLC
10 August 2004


                               Old Mutual plc

                             Interim Dividend 2004

The Directors of Old Mutual plc ('the Company') have declared an interim
dividend of 1.75p per share for the six months to 30 June 2004, to be paid on
Tuesday, 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.

Shareholders on the South African, Zimbabwe and Malawi branch registers and the
Namibian section of the principal register will be paid the local currency
equivalent of the dividend under the Dividend Access Trust arrangements
established in each country. Local currency equivalents of the dividend will be
determined by the Company using exchange rates prevailing at close of business
on Thursday, 7 October 2004 and will be announced by the Company on Friday, 8
October 2004.

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.

                                                                  10 August 2004

Enquiries:

Old Mutual plc UK
Miranda Bellord           [phone]


Old Mutual plc SA
Nad Pillay                    [phone]


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