Nedcor raises capital

Old Mutual PLC
25 September 2003

                               OLD MUTUAL PLC



                             Nedcor raises capital



Old Mutual draws attention to today's announcement by Nedcor Limited ('Nedcor'),
the South African banking group in which it has a 53% stake, regarding capital
raising activities of Nedcor's subsidiary, Nedbank Limited.



The full text of the Nedcor announcement is available on SENS, the JSE
Securities Exchange News Service and on Old Mutual's 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.



25 September 2003





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