Final Currency Conversion

Old Mutual PLC
04 October 2002

                                 OLD MUTUAL PLC

             Interim Dividend for the six months ended 30 June 2002

                              Currency Conversion

In the interim results announcement of Old Mutual plc for the six months ended
30 June 2002 published on 12 August 2002, the directors declared an interim
dividend of 1.7p per share or its equivalent in other currencies of payment.
The Company's shares are listed on the London, Zimbabwe, Namibian and Malawi
stock exchanges and the JSE Securities Exchange South Africa ('JSE').


The local currency equivalents of the proposed dividend have now been
established, using the exchange rates prevailing on 3 October 2002, as follows:

South Africa                               27.72   South African cents per share

Malawi                                    2.1320   Malawi Kwacha per share

Namibia                                    27.72   Namibian cents per share

Zimbabwe                                  1.4809   Zimbabwean dollars per share


The interim dividend will be paid on 29 November 2002.

The record date for this dividend payment is 18 October 2002 for all the
exchanges where Old Mutual shares are listed. The shares will trade ex dividend
from the opening of business on 14 October 2002 on the JSE and the Malawi,
Namibian and Zimbabwe Stock Exchanges and the opening of business on 16 October
2002 on the London Stock Exchange.


The last day to trade cum dividend on the JSE and other African exchanges will
be the close of business on Friday, 11 October 2002.


Shares may not be dematerialised or rematerialised in the context of the South
African share trading system, STRATE, between Monday, 14 October 2002 and
Friday, 18 October 2002, both dates inclusive.


                                                                  4 October 2002

ENQUIRIES:

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

Cape Town
Hein Landsberg, Manager Shareholder Services              Tel: + 27 21 509 1972


College Hill
London
Tony Friend                                               Tel: + 44 20 7457 2020

Johannesburg
Nicholas Williams                                         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