Old Mutual - UAM 2nd Closing

Old Mutual PLC
29 August 2000

                                
                                
                                                                              
                         OLD MUTUAL PLC                                       
                                                        
    Old Mutual Extends Tender Offer For United Asset Management          
                          Corporation                                  
                                
            New Expiration Date is September 11, 2000


BOSTON (August 29, 2000) - Old Mutual plc announced today that it
has  extended the expiration date for its cash tender  offer  for
all outstanding shares of common stock of United Asset Management
Corporation  (NYSE:  UAM).  The new expiration  date  is  Monday,
September 11, 2000 at 5:00 p.m. EDT.

As of the previous expiration date of 5:00 p.m. EDT on August 28,
2000,  approximately 46,377,396 shares of UAM  common  stock  had
been  tendered, representing approximately sixty-two and  a  half
percent (62.5%) of UAM common stock on a fully-diluted basis.

                                                   29 August 2000


Enquiries:

Old Mutual plc, London                   Tel: + 44 20 7569 0100
James Poole, Director Investor Relations

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

Old Mutual, Cape Town                    Tel: + 27 21 509 2732
Bruce Allen, Manager, Group Media Communications

College Hill, Johannesburg               Tel: + 27 11 447 3030
Kim Milnes