Nedcor Interim Results

Old Mutual PLC
2 August 2001

                                OLD MUTUAL PLC

                            Nedcor Limited (NED.J)

            Interim results for the six months ended 30 June 2001

Nedcor Ltd ('Nedcor'), the South African banking group, in which Old Mutual
plc ('Old Mutual') has a 53.4% holding, has today issued interim results for
the six months ended 30 June 2001.

The full text of the Nedcor announcement is available on the Stock Exchange
News Service (SENS). It should be noted that in the interim accounts for Old
Mutual, certain items in the Nedcor results will be treated under UK Generally
Accepted Accounting Practice (GAAP) rather than South African GAAP used by
Nedcor. Old Mutual will release its interim results on 4 September 2001.

Commenting on Nedcor's results, Julian Roberts, Finance Director of Old Mutual
said:

'Nedcor has achieved a solid set of results in the first half of 2001,
improving market share in a tough market. It is now the second largest bank in
South Africa in terms of assets with strategies to drive further growth out of
new ventures and partnerships. The excellent achievement in increasing
headline earnings by over 20% is driven by good levels of growth in operating
income and continued tight control on expenses.'

                                                                 2 August 2001

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James Poole, Director Investor Relations
College Hill, London                                     Tel: + 44 20 7457 2020

Matthew Gregorowski
Old Mutual, Cape Town                                     Tel: + 27 21 509 2732

Bruce Allen, Manager, Group Media Communications
College Hill, Johannesburg                                Tel: + 27 11 447 3030

Linda Baker