Result of Nedcor Rights Issue

Old Mutual PLC
10 May 2004


                                 Old Mutual plc
                         Results of Nedcor Rights Issue

Nedcor Limited ('Nedcor'), the South African banking group in which Old Mutual
plc ('Old Mutual') has a 52 per cent. holding, has today announced the results
of its renounceable rights issue, which closed on Friday 7 May 2004.

The full text of  Nedcor's announcement is available on the JSE Securities
Exchange News Service (SENS) and on the Old Mutual website, www.oldmutual.com.
A paper copy of the full announcement is available from Corporate Affairs, Old
Mutual plc, 5th Floor, Old Mutual Place, 2 Lambeth Hill, London EC4V 4GG or 2nd
Floor, Building 3, 93 Grayston Drive, Sandton - 2196, South Africa.

10 May 2004

Enquiries

Old Mutual plc UK
Miranda Bellord [phone]

Old Mutual plc SA
Nad Pillay            [phone]




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