Nedcor Ltd Trading Update

Old Mutual PLC
13 May 2004


                                Old Mutual plc

                              Nedcor Trading Update



Old Mutual plc ('Old Mutual') draws attention to today's trading update by
Nedcor Limited ('Nedcor'), the South African banking group in which it has a 52
per cent. holding.


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 announcement is available from
Corporate Affairs, Old Mutual plc, 5th Floor, Old Mutual Place, 2 Lambeth Hill,
London EC4V 4GG or Old Mutual Square, Isibaya Building, 2nd Floor, 93 Grayston
Drive, Sandton - 2196, South Africa


Old Mutual will be providing an update on current trading activities in respect
of the whole Old Mutual Group at 7.00 a.m. (UK time), 8.00 a.m. (SA time),
tomorrow.

                                                                     13 May 2004


ENQUIRIES:

Old Mutual plc UK

Miranda Bellord [phone]


Old Mutual plc SA

Nad Pillay            [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange