Schemes of Arrangement

Old Mutual PLC
5 June 2002


                                 OLD MUTUAL PLC





                  Nedcor Limited (NED SJ)/BoE Limited (BOE SJ)

                     Schemes of arrangement - salient dates



Old Mutual draws attention to the joint announcement by its subsidiary Nedcor
Limited ('Nedcor'), the South African banking group, in which it has a 53%
holding and BoE Limited ('BoE'), made on 3 June 2002, detailing the schemes of
arrangement proposed by Nedcor between BoE and its shareholders.



The full text of the Nedcor/BoE announcement is available on SENS, the JSE
Securities Exchange News Service and on Old Mutual's website, www.oldmutual.com.



5 June 2002




ENQUIRIES:


Old Mutual, London                                   Tel: [phone]
Martin Murray


College Hill, London                                 Tel: [phone]
Nicholas Williams







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