Result of Tender Offer

Old Mutual PLC
26 September 2000

                       OLD MUTUAL PLC

     Results of Tender Offer for United Asset Management
                         Corporation
                              
Approximately 93% of the Outstanding UAM Shares Were
                   Tendered to Old Mutual


BOSTON (September 26, 2000) - Old Mutual plc announced today
that,  pursuant  to  its tender offer  for  all  outstanding
shares   of   common   stock  of  United  Asset   Management
Corporation (NYSE: UAM), Old Mutual has accepted for payment
all  shares of UAM common stock validly tendered as  of  the
5:00  p.m.  EDT September 25, 2000 expiration of the  tender
offer, at a purchase price of $25 net per share.

Specifically,  Old  Mutual accepted for  payment  53,270,488
shares  of UAM common stock tendered prior to the expiration
of  the tender offer, representing approximately 93%
of  the  outstanding  shares of  UAM  common  stock.   These
figures  do  not  include additional UAM  shares  that  were
tendered by means of guaranteed delivery.

Old  Mutual  intends to complete a 'short form'  second-step
merger  at  $25  net  per  share  as  soon  as  practicable,
following which UAM will become a wholly-owned subsidiary of
Old Mutual.
                                          26 September, 2000



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

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