Nedcor Final Results

Old Mutual PLC
23 February 2004

                                 Old Mutual plc
                        Nedcor Limited (NED SJ) results
                      for the year ended 31 December 2003



Nedcor Ltd. ('Nedcor'), the South African banking group, in which Old Mutual plc
('Old Mutual') has a 52% holding, has today issued financial results for the
year ended 31 December 2003.


The full text of Nedcor's announcement is available on the JSE Securities
Exchange News Service (SENS) and can also be accessed on Old Mutual's website,
www.oldmutual.com.  A paper copy of the full Nedcor announcement is available
from Investor Relations, Old Mutual plc, Old Mutual Place, 2 Lambeth Hill,
London EC4V 4GG. 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.


23 February 2004



ENQUIRIES:


Old Mutual, London                                         Tel: [phone]
James Poole
Miranda Bellord
Old Mutual, South Africa                                   Tel: [phone]
Nad Pillay



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