Interim Dividend

Old Mutual PLC
16 October 2001


                                 OLD MUTUAL PLC

            Interim Dividend for the six months ended 30 June 2001

                             Currency Conversion

In the interim results announcement of Old Mutual for the six months ended 30
June 2001 published on 4 September 2001, the directors declared an interim
dividend of 1.7p per share.

The record date for this dividend payment is 19 October 2001 for all the
exchanges where Old Mutual shares are listed. The ex-dividend date is the
opening of business tomorrow, 17 October 2001 on all those exchanges.

The local currency equivalents of the proposed dividend have now been
established, using the exchange rates prevailing on 15 October 2001.

These dividends are as follows:


South Africa         22.20   South African cents per share
Malawi               1.5218 Malawi Kwacha per share
Namibia              22.20   Namibian cents per share
Zimbabwe             1.3658 Zimbabwean dollars per share

The interim dividend will be paid on 30 November 2001.


                                                               16 October 2001

ENQUIRIES:

Old Mutual plc
London
James Poole, Director Investor Relations           Tel: + 44 20 7569 0100
Cape Town
Martin Minnaar, Shareholder Services               Tel: + 27 21 509 4403


College Hill
London
Nicholas Williams                                  Tel: + 44 20 7457 2020
Johannesburg
Robyn Hunt                                         Tel: + 27 11 447 3030


Transfer Secretaries / Registrars
Computershare Services
Bristol call centre:                               Tel: [phone]
Johannesburg call centre:                          Tel: [phone]