New Skandia CEO

Old Mutual PLC
14 February 2006

                                 Old Mutual plc

         Julian Roberts nominated as Chief Executive Officer of Skandia

Old Mutual plc ('Old Mutual') has put forward Julian Roberts to the Nominating
Committee as a Board Director of Forsakringsaktiebolaget Skandia (publ)
('Skandia') at Skandia's Extraordinary General Meeting to be held on 21 February
2006.

Old Mutual is also pleased to announce Julian Roberts' nomination as Chief
Executive Officer of Skandia, with effect from 22 February 2006, at which date
Hans-Erik Andersson will be asked by the new Board of Directors to step down.

If his appointment is approved by Skandia's new board of directors, Mr Roberts
will relinquish his current responsibilities as Group Finance Director of Old
Mutual and will stand down from his non-executive directorships of Old Mutual's
separately listed subsidiaries, Nedbank Group Limited and Mutual & Federal
Insurance Company Limited, at their Annual General Meetings in May 2006. He will
continue as an Executive Director on the Old Mutual plc board.

Commenting on the nomination, Jim Sutcliffe, Chief Executive of Old Mutual plc,
said:

'Julian has done a great job as Group Finance Director for Old Mutual. He also
has a great deal of experience of bringing businesses together and
change-management. This makes him an ideal candidate to ensure Skandia delivers
its full potential as part of the Old Mutual group.'

'We would like to thank Hans-Erik Andersson who has achieved a lot at Skandia
over the past two years and leaves a solid foundation for growth.'

Richard Hoskins, Deputy Finance Director of Old Mutual plc, will officiate as
Acting Group Finance Director from 1 March 2006, pending the appointment of a
successor to Mr Roberts.

A full biography of Julian Roberts follows.

                                                                14 February 2006

ENQUIRIES:

Old Mutual plc
Malcolm Bell - Investor Relations (UK)         + 44 (0) 20 7002 7166
Miranda Bellord - Media Relations (UK)         + 44 (0) 20 7002 7133
Deward Serfontein - Investor Relations (SA)    + 27 21 509 8709
Nad Pillay - Media Relations (SA)              + 27 11 523 9612

College Hill
Alex Sandberg                                  + 44 (0) 20 7457 2020
Tony Friend                                    + 44 (0) 20 7457 2020


For further information about Old Mutual plc visit www.oldmutual.com



Julian Roberts BA, FCA, MCT

Julian Roberts, 48, joined the Old Mutual Group in August 2000 as Group Finance
Director.

Julian qualified as an accountant at PricewaterhouseCoopers in 1983, and moved
into the insurance industry, working for C E Heath, in 1987.

In 1993 he became Director and Chief Financial Officer of Aon UK Holdings
Limited. Whilst at Aon he led the due diligence process and successful purchase
and integration of four major insurance broking businesses and was involved in
the development of the business strategy and infrastructure to cope with a
period of rapid growth.

Julian left Aon in 1998 to join Sun Life & Provincial Holdings plc as its Group
Finance Director prior to its acquisition of Guardian Royal Exchange plc. He was
involved in the financing of this transaction and its integration.

Born in 1957, Mr Roberts, a British national, studied Accountancy and Business
Law at the University of Stirling in Scotland. Here he met his wife of 25 years,
Marion, and together they have three sons and a daughter. He is passionate about
sports and enjoys playing golf and supporting his children at their rugby,
football and hockey fixtures.

Photographs of Mr Roberts are available at http://www.oldmutual.com/vpage.jsp?
page_id=6934




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