Nedcor Results

Old Mutual PLC
12 February 2002



                                 OLD MUTUAL PLC

                            Nedcor Limited (NED SJ)

                  Results for the year ended 31 December 2001

Nedcor Ltd ('Nedcor'), the South African banking group, in which Old Mutual plc
('Old Mutual') has a 51% holding, has today issued financial results for the
year ended 31 December 2001.

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.
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 25 February 2002.

Commenting on Nedcor's results, Jim Sutcliffe, chief executive of Old Mutual
said:

'These are very strong results which have been achieved in a challenging
environment.'


                                                                12 February 2002

ENQUIRIES:

Old Mutual, London                                        Tel: + 44 20 7569 0100
Zoleka Mzimba

College Hill, London                                      Tel: + 44 20 7457 2020
Nicholas Williams

Old Mutual, Cape Town                                      Tel: + 27 21 509 2732
Bruce Allen




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