Mutual & Federal Results

Old Mutual PLC
13 February 2002



                                 OLD MUTUAL PLC

              Mutual & Federal Insurance Company Limited (MAF SJ)

                  Results for the year ended 31 December 2001

Mutual & Federal Insurance Company Limited ('Mutual & Federal'), the South
African general insurance group in which Old Mutual plc ('Old Mutual') has a 51%
interest, has today issued its financial results for the year ended 31 December
2001.

The full text and table of results of the Mutual & Federal announcement is
available on SENS, the JSE Securities Exchange News Service and on Old Mutual's
website, www.oldmutual.com.  The results have been drawn up in accordance with
South African Generally Accepted Accounting Practice (GAAP) and will be
consolidated in the accounts of Old Mutual in accordance with UK GAAP. Old
Mutual will release its preliminary results on 25 February 2002.

Commenting on Mutual & Federal's results, Julian Roberts, Group Finance Director
of Old Mutual said:

'This is a solid performance by the company and follows the completion of the
successful integration of CGNU's business in South Africa.'

                                                                13 February 2002

ENQUIRIES:

Old Mutual plc, London                                 Tel: + 44 20 7569 0100
Zoleka Mzimba

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

Old Mutual plc, Cape Town                              Tel: + 27 21 509 2732
Bruce Allen





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