Share Interests

Old Mutual PLC
10 April 2006

                                 Old Mutual plc

       Share interests of persons discharging managerial responsibilities

                 Grant of share option to Michael Henry Newman


Following the annual invitation to eligible employees under the Old Mutual UK
Sharesave Plan (the 'Sharesave Plan'), options were granted on 7 April 2006 over
a total of 939,625 shares in Old Mutual plc (the 'Company') to 248 employees, at
an exercise price of £1.53 per share. In accordance with the rules of the
Sharesave Plan, this exercise price represented a 20% discount to the average
market price at which the Company's shares traded on the London Stock Exchange
on the reference dates of 13, 14 and 15 March 2006.

As part of the grant, Mr M H Newman, Director, Group Corporate Development,
received an option over a total of 6,111 shares at the exercise price of £1.53
per share, exercisable between 1 June 2009 and 30 November 2009. Mr Newman's
previous option under the Sharesave Plan (granted on 4 April 2003 over 15,750
shares at £0.60 each) is exercisable from 1 June 2006.


                                                                  10 April 2006


ENQUIRIES:

Old Mutual plc
Malcolm Bell - Investor Relations (UK)             + 44 (0) 20 7002 7166
Miranda Bellord - Media Relations (UK)             + 44 (0) 20 7002 7133
Deward Serfontein - Investor Relations (SA)        + 27 21 509 8709
Nad Pillay - Media Relations (SA)                  + 27 11 523 9612

College Hill
Alex Sandberg                                      + 44 (0) 20 7457 2020



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