Further re Offers

OLD MUTUAL PLC
19 July 1999

                       Old Mutual plc
                              
             Announcement relating to the Offers

Old Mutual plc announces that the Joint Bookrunners, Merrill
Lynch  International and Warburg Dillon Read, on  behalf  of
the  Managers,  have  exercised  the  Over-allotment  Option
granted by Old Mutual plc in connection with the Offers. The
Joint  Bookrunners  and  the  Managers  have  subscribed  or
procured subscribers for 176,216,873 new Shares at the Offer
Price  of  120 pence per Share. Old Mutual plc will  receive
the net proceeds for the issue of these Shares.

Following   the  issue  of  these  new  Shares,  there   are
3,444,624,231 Shares in issue in Old Mutual plc.



ENQUIRIES:

College Hill
Tony Friend                             Tel: [phone]
Gareth David