Re Nedcor Limited

Old Mutual PLC
31 January 2001


                                OLD MUTUAL PLC


                       Nedcor makes final announcement

                   on exchange of shares in Dimension Data


Nedcor Limited (NED SJ), the South African banking group in which Old Mutual
plc (OML LN) has a 53.3% holding, has today made a final announcement
regarding the exchange of its shareholding in Dimension Data International Ltd
for a shareholding in Dimension Data Holdings plc and withdrawn the related
cautionary announcement made by Nedcor Limited on 29 August 2000. The full
text of Nedcor's announcement is attached below.


                                                               31 January 2001


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 / Matthew Gregorowski

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



                                Nedcor Limited


                                 ANNOUNCEMENT

                               31 January 2001


 Final announcement regarding the exchange of Nedcor's interests in Dimension
   Data International Limited ('DDIL') for a shareholding in Dimension Data
                  Holdings plc ('DD plc') and withdrawal of

                           cautionary announcement


On 20 September 2000 Nedcor announced that it had concluded binding agreements
with DD plc regarding, inter alia, the exchange by Nedcor of its 25,1%
shareholding in DDIL (together with its shareholder claims) for:


  * the allotment and issue to Nedcor of 103,1 million ordinary shares in DD
    plc, to be registered on DD plc's principal share register in London; and


  * a cash payment of R1,8 billion, one-half payable in Rands in South
    Africa and the other half payable in US Dollars in the European Union
    ('the exchange').


Shareholders of Nedcor are advised that the exchange has become unconditional
and, accordingly, shareholders of Nedcor need no longer exercise caution in
dealing in their Nedcor shares.


Johannesburg

31 January 2001