Result of EGM

Old Mutual PLC
06 July 2005


   Extraordinary General Meeting and Court Meeting relating to the Old Mutual
          Group's Black Economic Empowerment (BEE) ownership proposals
                         Results of shareholder voting

Extraordinary General Meeting
At an Extraordinary General Meeting of Old Mutual plc held in London earlier
today, all of the resolutions set out in the notice of meeting were voted on by
a poll, and the results of the votes cast on the polls were as follows:

Ordinary Resolutions
Resolution 1      To adopt and establish the Old Mutual (South Africa)
                  Broad-Based Employee Share Plan
                  In favour          Against           % in favour
                  1,900,898,195      9,243,123         99.52%

Resolution 2      To adopt and establish the Old Mutual (South Africa)
                  Senior Black Management Share Plan
                  In favour          Against           % in favour
                  1,899,513,924      10,382,957        99.46%

Resolution 3      To adopt and establish the Old Mutual (South Africa)
                  Management Incentive Share Plan
                  In favour          Against           % in favour
                  1,867,060,973      9,580,903         99.49%

Resolution 4      To grant authority to allot relevant securities in
                  connection with the Company's BEE proposals
                  In favour          Against           % in favour
                  1,891,807,779      18,490,972        99.03%

Special Resolutions
Resolution 5      To grant authority to disapply pre-emption rights in
                  allotting certain equity securities in connection with
                  the Company's BEE proposals
                  In favour          Against           % in favour
                  1,893,084,590      8,238,857         99.57%

Resolution 6      To approve the Group's BEE proposals, including the
                  related scheme of arrangement, and make certain
                  consequential changes to the Company's Group Share
                  Incentive Scheme rules and Memorandum and Articles of
                  Association
                  In favour          Against           % in favour
                  1,900,403,315      9,400,921         99.51%

Each of the resolutions was accordingly duly passed. The full texts of the
resolutions are set out in the Appendix to this announcement.


Court Meeting
At a Meeting of the Company's shareholders convened by order of the UK High
Court and held immediately following the Extraordinary General Meeting today, a
resolution was put to approve a scheme of arrangement under section 425 of the
UK Companies Act 1985 authorising the Board of the Company to issue new shares
in the Company to the special purpose vehicles established by the four BEE
counterparties on or before 31 December 2005 in accordance with the Trust Deeds
and Subscription Agreements described in the shareholder circular relating to
the BEE proposals.

The results of the poll relating to the resolution proposed at that Court
Meeting are set out below:

Resolution to approve the proposed scheme of arrangement
In favour                Against                 % in favour
1,889,305,538            7,651,422               99.60%

The resolution was accordingly duly passed and an application will now be made
by the Company to the UK High Court for the scheme of arrangement to be
confirmed.

Commenting on the results of today's votes, Jim Sutcliffe, Chief Executive,
said, 'We are pleased that shareholders have shown their strong support for our
BEE ownership proposals, which have also been welcomed by key constituencies
within South Africa. They have already had a positive impact on the performance
of our three South African businesses, where trading has continued to build on
the positive start made in the first quarter of the year.'

                                                                     6 July 2005

ENQUIRIES:

Old Mutual plc UK
Miranda Bellord     [phone]

Old Mutual plc SA
Nad Pillay          [phone]


For further information about Old Mutual plc visit www.oldmutual.com


                                    Appendix

The following are the full texts of the resolutions passed the Extraordinary
General Meeting of the Company held on 6 July 2005. Those numbered 1, 2, 3 and 4
were passed as Ordinary Resolutions and those numbered 5 and 6 were passed as
Special Resolutions:

 1. That the OMSA Broad-Based Employee Share Plan ('OMSA Broad-Based Scheme'),
    the principal terms of which are set out in Part V of the circular dated 27
    May 2005 from the Company to its shareholders, a copy of the rules of which
    is produced to this meeting and which has been signed for the purposes of
    identification by the Chairman, be and is hereby approved and the Directors
    of the Company be authorised, if they see fit, to adopt and establish the
    OMSA Broad-Based Scheme and to do all acts and things as they may consider
    necessary or desirable to carry the OMSA Broad-Based Scheme into effect and
    to take account of the requirements of the London Stock Exchange plc.

 2. That the OMSA Senior Black Management Share Plan ('OMSA Senior Black
    Management Scheme'), the principal terms of which are set out in Part V of
    the circular dated 27 May 2005 from the Company to its shareholders, a copy
    of the rules of which is produced to this meeting and which has been signed
    for the purposes of identification by the Chairman, be and is hereby
    approved and the Directors of the Company be authorised, if they see fit, to
    adopt and establish the OMSA Senior Black Management Scheme and to do all
    acts and things as they may consider necessary or desirable to carry the
    OMSA Senior Black Management Scheme into effect and to take account of the
    requirements of the London Stock Exchange plc.

 3. That the OMSA Management Incentive Share Plan ('OMSA Management Scheme'), the
    principal terms of which are set out in Part V of the circular dated 27 May
    2005 from the Company to its shareholders, a copy of the rules of which is
    produced to this meeting and which has been signed for the purposes of
    identification by the Chairman, be and is hereby approved and the Directors
    of the Company be authorised, if they see fit, to adopt and establish the
    OMSA Management Scheme and do all acts and things as they may consider
    necessary or desirable to carry the OMSA Management Scheme into effect and
    to take account of the requirements of the London Stock Exchange plc.

 4. That pursuant to section 80 of the Companies Act 1985, and in addition to any
    previously existing authority conferred upon the Directors of the Company
    under that section, the Directors be and they are hereby authorised
    unconditionally to allot relevant securities (as defined in the said section
    80) for the purposes of the Old Mutual plc Proposal as described in the
    circular dated 27 May 2005 from the Company to its shareholders, up to an
    aggregate nominal amount of £23.07 million, which authority shall commence
    on the date this resolution is passed and expire at the end of 31 December
    2005, save that the Company may allot relevant securities for these purposes
    pursuant to any agreement entered into at any time prior to 31 December 2005
    (whether before or after the passing of this Resolution) which would or
    might require relevant securities to be allotted after such expiry and the
    Board may allot relevant securities in pursuance of such agreement as if the
    authority conferred hereby had not expired.

 5. That the Directors be and they are hereby authorised to allot equity
    securities within the meaning of section 94 of the Companies Act, 1985 to
    the Shares Trustee on behalf of the SPVs, which are WIPHOLD Financial
    Service No. 1 Limited, BRIMSTONE Mtha UK SPV Limited, Education SPV Limited,
    Black Distributors SPV Limited, and to the OMSA Management Incentive Trust
    and the OMSA Broad-Based Employee Share Trust for the purposes of the Old
    Mutual plc Proposal as described in the circular dated 27 May 2005 from the
    Company to its shareholders up to a maximum nominal aggregate amount of
    £23.07 million for cash pursuant to the authority conferred by the
    immediately preceding resolution as if section 89(1) of that Act did not
    apply to any such allotment, which authority shall commence on the date this
    resolution is passed and expire at the end of 31 December 2005, save that
    the Company may allot equity securities for these purposes pursuant to any
    agreement entered into at any time prior to 31 December 2005 (whether before
    or after the passing of this Resolution) which would or might require equity
    securities to be allotted after such expiry and the Board may allot equity
    securities in pursuance of such agreement as if the authority conferred
    hereby had not expired.

 6. That:
    (i) the scheme of arrangement (the 'Scheme') between the Company and the holders
    of its shares, a copy of which has been produced to this meeting and which has
    been signed for the purposes of identification by the Chairman, be and is hereby
    approved;
    (ii) the Directors be and are hereby authorised, if they shall see fit to do so,
    to implement: (a) the arrangements set out in the Subscription Agreements and
    the deeds and instruments ancillary thereto; (b) the additional arrangements
    contemplated in the circular dated 27 May 2005 from the Company to its
    shareholders (the 'Circular') so that the Old Mutual plc Proposal (as outlined
    in the Circular) can be carried into effect in accordance with the arrangements
    described in the Circular, with such non-material modifications as the Directors
    may think fit;
    (iii) the BEE proposals to be implemented by Nedbank Group Limited (including
    the Nedbank Staff and Management Schemes), summary details of which are outlined
    in the Circular, be and are hereby approved;
    (iv) the BEE proposals to be implemented by Mutual & Federal Insurance Company
    Limited (including the Mutual & Federal Staff and Management Schemes), summary
    details of which are outlined in the Circular, be and are hereby approved;
    (v) the rules of the Old Mutual plc Group Share Incentive Scheme be modified by
    the deletion of paragraph 3.1.2, the consequential renumbering of paragraphs
    3.1.3 and 3.1.4 as paragraphs 3.1.2 and 3.1.3 respectively, and the amendment of
    the reference in paragraph 3.1.3 (as so renumbered) to '5% of the Company's
    issued ordinary share capital for the time being' to read '6% of the Company's
    issued ordinary share capital for the time being';
    (vi) the Articles of Association of the Company be amended by the insertion of
    the following paragraph as the second paragraph of Article 128 (Calculation and
    Currency of Dividends):
    'For the avoidance of doubt, a share is deemed paid up (as to its nominal value
    or any premium on it) for the purposes of these Articles, in cash, or allotted
    for cash, if the consideration for the allotment or payment up is (inter alia)
    cash received by the company, or is a release of a liability of the company for
    a liquidated sum, or is an undertaking to pay cash to the company at a future
    date or dates.'
    The remaining paragraphs of Article 128 shall be re-ordered accordingly;
    (vii) the objects clause in the Memorandum of Association of the Company be
    amended by the insertion of the following words after 'cash' in the first
    sentence of Clause 4(22):
    '(whether for a consideration which is less than the market value or not)'.




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