Nedcor's Asset Mgmt Interest

Old Mutual PLC
30 August 2002


                                 OLD MUTUAL PLC

               The Future of Nedcor's Asset Management Interests


Old Mutual draws attention to today's announcement by its subsidiary Nedcor
Limited ('Nedcor'), the South African banking group, in which it has a 53%
stake, regarding the future of BoE Asset Management.

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, 57 Berkeley Square, London W1J 6ER.


                                                                 30 August 2002



ENQUIRIES:

Old Mutual, London                                   Tel: [phone]
James Poole

College Hill, London                                 Tel: [phone]
Tony Friend




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