Nedcor Cautionary Announcemnt

Old Mutual PLC
22 June 2001


                                Old Mutual plc


                  Cautionary announcement by Nedcor Limited


Old Mutual plc ('Old Mutual') draws shareholders' attention to the following
announcement issued this afternoon on the JSE Securities Exchange South Africa
by Nedcor Limited ('Nedcor'), the South African banking group in which Old
Mutual has a 53.4% holding:

'Shareholders are advised that Nedcor is considering options relating to its
investment in Dimension Data Holdings plc, the outcome of which may have a
material effect on the price of Nedcor's shares. Accordingly, shareholders are
advised to exercise caution when dealing in their Nedcor shares until a
further announcement is made.'

                                                                  22 June 2001


Enquiries:
Old Mutual plc                                   Tel: [phone]
Zoleka Mzimba, Corporate Communications

College Hill, London                             Tel: [phone]
Matthew Gregorowski

College Hill, South Africa                       Tel: [phone]
Linda Baker