Re Directorate

Old Mutual PLC
15 December 2000


                             OLD MUTUAL PLC
                                    
        Richard Laubscher appointed a Director of Old Mutual plc


Old  Mutual  plc (OML:L)  is pleased to announce that Richard  Laubscher,
49, has been appointed as an additional member of its Board, with effect
from 1 January  2001. Richard Laubscher is Chief  Executive  of  Nedcor
Limited,  the 53%-owned banking subsidiary of the Group.  Nedcor  Ltd  is
based  in  Johannesburg and its shares are separately listed on  the  JSE
Securities Exchange South Africa.

Mike Levett, Chairman & Chief Executive of Old Mutual plc, said today:

'We  are  delighted  that  Richard, who  manages  one  of  our  principal
operating  businesses, has accepted the invitation to join the Board.  He
is already a director of Old Mutual Life Assurance Company (South Africa)
Limited,   our  principal  life  assurance  subsidiary.   His  long   and
distinguished experience of international banking and financial  services
will be of great value to our Board.'


ENQUIRIES:                   
                             
Old Mutual plc                       Tel: [phone]
James Poole,                 
Director Investor Relations
and Corporate Communications
                             
College Hill (London)                Tel: [phone]
Tony Friend                                              
                                                         
College Hill (South Africa)          Tel: [phone]
Brendan Templeton                                        
                                                       

NOTES TO EDITORS

Richard  Laubscher has been a director of Nedcor Ltd since 1992, and  was
appointed Chief Executive in 1994.

Richard  Laubscher has spent his entire career with the Nedcor Group.  He
is  an honours Graduate, Finance, of the University of South Africa,  and
an  alumnus of the Harvard Advanced Management Programme. He  is  a  past
President of the Institute of Bankers, South Africa and past Chairman  of
The  Banking Council.  He is also a non-executive director of Old  Mutual
Life Assurance Company (South Africa) Limited, the Group's principal life
assurance business.

Nedcor  Limited  is currently the third largest banking  group  in  South
Africa  in  terms of market capitalisation.  Listed on the JSE Securities
Exchange  South  Africa, Nedcor has assets of over US$ 19  billion.   Old
Mutual  owns  53%  of the equity of Nedcor.  The Nedcor  Group  comprises
retail  and  commercial  banking, merchant  banking,  trust  and  related
financial  services  companies.   It  operates  internationally   through
operations  and representative offices in London, the Isle of  Man,  Hong
Kong, Beijing, Taiwan, Singapore and Mauritius and through associates  in
sub-Saharan Africa.