Share Buyback Programme

Old Mutual PLC
03 October 2007

Old Mutual plc

Ref: 53/07


3 October 2007



                            Share buyback programme



The Board of Old Mutual plc ('the Company') is pleased to announce that the
Company proposes to implement a share buyback programme, as indicated at the
time of the publication of Group's interim results on 10 August 2007.  This
action is part of the Company's ongoing commitment to balance sheet and capital
efficiency and the creation of shareholder value.


The Company now intends to repurchase shares to a total value of approximately
£350 million.  The transactions will be a combination of on-market purchases on
the London Stock Exchange and purchases on the JSE Limited pursuant to one of
the contingent purchase contracts approved by shareholders at this year's Annual
General Meeting. The repurchases will be financed using the Company's internal
resources.


The Company plans to hold the shares repurchased under this programme in
treasury.


Enquiries

Investor Relations
Aleida van Herel             UK        [phone]
Deward Serfontein            SA        + 27 (0) 21 509 8709

Media
James Crampton               UK        [phone]
Nad Pillay                   SA        [phone]

College Hill
Alex Sandberg                          [phone]
Tony Friend



Old Mutual

For further information on Old Mutual plc, please visit the corporate website at
www.oldmutual.com







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