Nedcor-Capitalisation Issue

Old Mutual PLC
27 September 2000


                       Old Mutual plc
                              
             Nedcor Limited Capitalisation Issue
                              
Nedcor  Limited, the 53% subsidiary of Old  Mutual  plc  has
today  announced  that the Johannesburg Stock  Exchange  has
granted  the  listing  of  1,373,050   new  ordinary  shares
bringing  the  total  issued share  capital  to  241,631,476
ordinary  shares.  The new shares were issued by  way  of  a
capitalisation issue in lieu of dividend.  The text  of  the
full announcement is available on the JSE SENS news service.

Enquiries:

Old Mutual plc, London               Tel:  + 44 20 7569 0100
James Poole, Director Investor Relations

College Hill, London                 Tel:  + 44 20 7457 2020
Tony Friend