Increased Stake

Old Mutual PLC
15 November 2000

                            
                     OLD MUTUAL PLC
                            
    Old Mutual takes increased stake in new US online
        distribution for Private Equity Ventures

Old  Mutual  plc  has invested a further  $6  million  in
Boston-based  BDirect Capital Inc., a financial  services
partnership   established   to   bring   private   equity
participation  within  the  reach  of  high   net   worth
investors.

Using proprietary technology, BDirect Capital provides  a
platform  for  investment  professionals  and  accredited
individuals to participate in the same types  of  private
equity  investment  opportunities as large  institutions.
Bringing   together   sophisticated,   high   net   worth
individuals, their financial advisors, and well-respected
private  equity  firms,  BDirect   Capital  will   offer,
through  wholly-owned  BDirect Securities,  Inc.  (member
NASD/SIPC),    pooled   investments   with   a    minimum
subscription typically of $25,000.

Pooling  investment  capital from  accredited  individual
investors,   BDirect   Capital  channels   the   combined
purchasing  power into selected investment  opportunities
identified from funds offered by well-respected leveraged
buy-out firms, venture capitalists and investment  banks.
This  method of investing allows accredited investors  to
participate  in  deals traditionally  available  only  to
institutions and the super rich.

Participation in this financing brings Old Mutual's stake
in   BDirect  Capital  to  $9  million  which  in   total
represents  a  20% holding in that company. Eric  Anstee,
Chief  Executive, Financial Services, Old Mutual plc  has
agreed to join the board of BDirect Capital.

Eric  Anstee commented 'The founding partners of  BDirect
Capital  have  created a very exciting model  which  will
extend   access  to  alternative  investment  funds   for
knowledgeable  investors.  There  is  a  rapidly  growing
market  internationally for these  asset  classes  and  I
believe BDirect Capital could play a significant role  in
building our Asset Management businesses for the future.'

Paul  Sanabria, a co-founder of Bdirect, added: 'By their
very nature, private equity investments are illiquid  and
not  suitable for all investors. But with the ability  to
work with quality fund managers and investment banks,  we
expect  to  appeal  to  a  broad class  of  sophisticated
investors who want to make private equity a part of their
overall portfolios. Financial advisors and asset managers
have  never before had a systematic, organised  mechanism
to  access  these  types of investment  opportunities  on
behalf  of  their  clients. The company  will  offer  its
products  both  through  its password-protected  website,
www.bdirectcapital.com  and through  selected  investment
professionals.'

14 November 2000

ENQUIRIES:

Old Mutual plc 
London - James Poole, Director 
Investor Relations                 Tel:  [phone]

BDirect Capital Inc 
Boston - Mary Mulkerin             Tel: + 1 781  741 8527

College Hill 
London - Nicholas Williams         Tel:  +  44  20 7457 2020

College Hill 
Johannesburg - Kim Milnes          Tel: + 27 11 447 3030


Notes for Editors:

On   September   25,  2000  Old  Mutual   completed   the
acquisition  of  United Asset Management  Corporation  of
Boston,  USA, which has $190bn of assets under management
through its affiliates.