NIB Limited Final Results

Old Mutual PLC
7 February 2002


OLD MUTUAL PLC


                         Nedcor Investment Bank Limited


                  Results for the year ended 31 December 2001


Old Mutual plc is an integrated financial services group, based in London, with
a substantial life assurance business in southern Africa, annuity business in
the United States, an international range of businesses in asset management
(including unit trusts, portfolio management and stockbroking services),
together with businesses in banking and general insurance.

Nedcor Investment Bank Holdings Ltd ('NIB'), the South African investment bank,
in which Nedcor Limited ('Nedcor'), the South African banking group has majority
control, has today issued financial results for the year ended 31 December 2001.
Old Mutual plc ('Old Mutual') has a 51% holding in Nedcor. The full text of the
NIB announcement is available on SENS, the JSE Securities Exchange News Service,
and has been drawn up in accordance with South African GAAP.

                                                                 7 February 2002


ENQUIRIES:

Old Mutual, London                                 Tel: + 44 (0)20 7569 0100
Zoleka Mzimba


Old Mutual, Cape Town                              Tel: + 27 (0)21 509 2732
Bruce Allen


College Hill, London                               Tel: + 44 (0)20 7457 2020
Nicholas Williams



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