Shares in issue

Old Mutual PLC
12 October 2004


                             Old Mutual plc

                    Shares in issue at 30 June 2004

Old Mutual plc (the 'Company') announces that a total of 3,848,834,209 shares in
the Company were in issue at 30 June 2004. Changes since 31 December 2003 were
made up as follows:

Number of shares in issue at 31 December 2003:            3,836,895,811

Shares issued during the period on exercise of
executive share options:                                      9,804,749

Shares issued during the period on exercise of
sharesave options:                                            2,133,649

Shares in issue at 30 June 2004:                          3,848,834,209

12 October 2004

Enquiries:

Old Mutual plc UK
Miranda Bellord             [phone]


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