Share interests

Old Mutual PLC
23 November 2004

                                        
                                 Old Mutual plc
                                        
                                Share interests
                                        
                                        
Old Mutual plc (the 'Company') announces that on 22 November 2004 it received
notice dated 18 November 2004 that Public Investment Commissioners of the
Republic of South Africa ('PIC') had a notifiable interest, for the purposes of
Part VI of the UK Companies Act 1985, in 398,417,574 ordinary shares of 10p each
in the Company, representing 10.34% of the Company's current issued ordinary
share capital.


58,759,814 of the shares concerned are held by PIC itself and the remainder are
held through the following asset managers:


            Futuregrowth                        46,714,893

            Old Mutual Asset Managers (SA)      77,920,702

            RMB Asset Management                66,252,244

            Sanlam Investment Management        73,196,647

            Stanlib Asset Management            75,573,274


The previous notification of PIC's shareholding in September 2004 was
382,584,914 ordinary shares of 10p each in the Company, representing
approximately 9.97% of the Company's then current issued ordinary share capital.


PIC is a non-banking financial intermediary responsible for the investment of
public sector pension and provident funds and various social security and trust
funds in South Africa.


                                                                23 November 2004
                                                                                

Enquiries:


Old Mutual plc UK

Miranda Bellord             [phone]


Old Mutual plc SA

Nad Pillay                  [phone]







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