Nedcor Limited Final Results

Old Mutual PLC
13 February 2003

                                 Old Mutual Plc


                            Nedcor Limited (NED SJ)


                  Results for the year ended 31 December 2002



Nedcor Limited ('Nedcor'), the South African banking group, in which Old Mutual
plc ('Old Mutual') has a 52.9% holding, has today issued financial results for
the year ended 31 December 2002.



The full text of the Nedcor announcement is available on the JSE Securities
Exchange News Service (SENS) and on the Old Mutual website, www.oldmutual.com. A
paper copy of the full Nedcor announcement is available from Investor Relations,
Old Mutual Plc, 3rd Floor, Lansdowne House, 57 Berkeley Square, London W1J 6ER.
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.



Old Mutual will release its preliminary results on 24 February 2003.



Commenting on Nedcor's results, Jim Sutcliffe, Chief Executive of Old Mutual
said:



'The year 2002 saw a major advance for Nedcor with the acquisition of BoE.
Turbulent markets and the impact of accounting issues have affected these
results but the company has laid strong foundations for the future.'





                                                                13 February 2003



ENQUIRIES:


Old Mutual, London                                   Tel: [phone]
James Poole


Old Mutual, South Africa                             Tel: [phone]
Nad Pillay






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