Re Directorate

Old Mutual PLC
4 October 2000


                     OLD MUTUAL PLC
                            
 New Finance Director for Old Mutual Financial Services
                            
The Board of Old Mutual plc ('Old Mutual' or 'the Group')
is  pleased  to announce that James Thornton  (aged  43),
currently Deputy Finance Director of Old Mutual, has been
appointed   Finance  Director  of  Old  Mutual  Financial
Services  ('OMFS'),  the  Group's  newly-established   UK
holding company*.

In  his new role Thornton will be responsible for finance
and  risk  management at OMFS, a business  which  employs
approximately (1,800) people and encompasses Old Mutual's
principal  UK  subsidiaries: Capel  Cure  Sharp,  Gerrard
Asset Management and Old Mutual Securities.

Thornton  succeeds Robert Elkington, who is taking  up  a
new  position within Old Mutual working with Mark Davies,
previously  Chief  Executive of  Gerrard  Group  plc,  to
develop  the  Group's  business in  the  high  net  worth
market.   Robert  Elkington  has  agreed  to   keep   his
responsibilities for compliance and risk  in  respect  of
the former Gerard Group UK companies currently located at
Cannon Bridge, London EC4.

Eric  Anstee,  Chief Executive, Financial  Services,  Old
Mutual said:

'Over  the  past 18 months James Thornton  has  played  a
vital   role   in  establishing  successfully   financial
reporting  and  control systems at  Old  Mutual  plc,  to
support  our  listing on the London Stockmarket  in  July
1999  and  the  subsequent expansion of the  Group  since
then,  notably the acquisition of Gerrard  Group  Plc  in
January  this  year.   His  new  role  will  extend  that
contribution  to  assist me build all  our  principal  UK
businesses. I am looking forward to working with  him  at
the centre of our team.'

                                           4 October 2000

ENQUIRIES:

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

College Hill                                 
Tel: + 44 20 7457 2020
Gareth David
Nicholas Williams


*    Old  Mutual Financial Services is regulated  by  the
     FSA  as  the  principally regulated entity  for  Old
     Mutual's operations in the UK

**   Biographical details of James Thornton are attached.
                    


                    James Thornton
                            

     Finance Director, Old Mutual Financial Services
                            
EDUCATION:
                            
1967 - 1976              Dulwich College

1976 - 1980              Magdalene College, Cambridge
                         MA (Hons) Classics & Law
                            
1983                     Member of the Institute of Chartered
                         Accountants

1988 - 1990              Harvard Business School
                         MBA

                            
CAREER SUMMARY:

1980 - 1986              Deloitte Haskins & Sells

1980 - 1983              Audit Trainee
1984 - 1986              Junior Manager, Audit, Boston

1986 - 1988              British  Consulate  General,
                         Chicago

                         Vice Consul (Industrial Development)

1990 - 1995              Morgan Stanley International

                         Associate, Corporate Finance and
                         Mergers &  Acquisition Departments
                         
                         Senior  Associate, European  Insurance
                         Group
                          
                         Vice   President,  European  Insurance
                         Group
                         
                         
1995 - 1999              BAT Industries PLC

                         Finance Controller

                         Head of Finance


1999 - Present           Old Mutual plc

                         Deputy Finance Director, Old  Mutual plc

                         Finance   Director,   Old   Mutual
                         Financial Services