Dividend Declaration

Old Mutual PLC
28 February 2005


                                 Old Mutual plc

               Final Dividend for the year ended 31 December 2004

The Directors of Old Mutual plc are recommending a final dividend for the year
ended 31 December 2004 of 3.5p per share (making a total of 5.25p for the year).

The record date for this dividend payment is the close of business on Friday, 22
April 2005 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 on the Namibian and Malawi Exchanges will be Friday, 15 April 2005, and in
Zimbabwe, Thursday, 14 April 2005. The shares will trade ex-dividend from the
opening of business on Monday, 18 April 2005 on the JSE, and on the Namibian and
Malawi Exchanges, from the opening of business on Friday, 15 April 2005 in
Zimbabwe, and from the opening of business on Wednesday, 20 April 2005 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
equivalents 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, 31 March 2005 and will be announced by the Company on Friday, 1
April 2005.

Share certificates may not be dematerialised or rematerialised on the South
African branch register between Monday, 18 April and Friday, 22 April 2005, both
dates inclusive, and transfers between the registers may not take place during
that period (or from Friday, 15 April to Friday, 22 April 2005, both dates
inclusive, in the case of Zimbabwe).

The final dividend is subject to approval at the Annual General Meeting of Old
Mutual plc, which is to be held in London on Wednesday, 11 May 2005. Subject to
being so approved, the final dividend will be paid on Tuesday, 31 May 2005.

                                                                28 February 2005

ENQUIRIES:

Old Mutual plc UK
Miranda Bellord [phone]

Old Mutual plc SA
Nad Pillay [phone]



For further information about Old Mutual plc visit www.oldmutual.com




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