Namibian Circular re. STRATE

Old Mutual PLC
29 January 2002

                                   OLD MUTUAL PLC

                      Namibian circular relating to STRATE


Old Mutual plc (the 'Company') is today sending a circular to shareholders on
the Namibian section of its share register who hold their shares in certificated
form, to explain to them the implications of the Company's admission to STRATE,
the paperless settlement system of the JSE Securities Exchange South Africa ('
JSE').  Transactions in the Company's shares on the JSE have been subject to
electronic settlement through STRATE since 14 January 2002.


For certificated shareholders on the Namibian section of its share register, the
Company is offering an Issuer-Sponsored Nominee Programme, in conjunction with
Computershare Custodial Services Limited, one of the Central Securities
Depository Participants under STRATE, to assist them to 'immobilise' their
shares.  This procedure will facilitate such shares being settled on the JSE,
which works in close conjunction with the Namibian market.


Dealings in shares in the Company on the London, Malawi and Zimbabwe Stock
Exchanges are not directly affected by these matters.


Copies of the circular are available from:-

•        The Company Secretary, Old Mutual plc, 3rd Floor Lansdowne House, 57
         Berkeley Square, London W1J 6ER;

•        Mr W Koegelenberg, Old Mutual Namibia, 5th Floor, Mutual Platz, Post
         Street Mall, Windhoek, Namibia; and

•        Mr MJ Oosthuizen, Old Mutual South Africa, Mutualpark, Jan Smuts Drive,
         Pinelands, Cape Town 8000, South Africa.


                                                                 29 January 2002

ENQUIRIES:


Old Mutual plc, South Africa

James Poole,

Director, Investor Relations                      Tel: + 27 21 509 6929


Old Mutual plc, London

Zoleka Mzimba                                     Tel: + 44 20 7569 0100


Old Mutual, Namibia

Willem Koegelenberg                               Tel: + 264 61 299 3999


College Hill, Johannesburg

Robyn Hunt                                        Tel: + 27 11 447 3030


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