Subsid's Change to Board of Directors

Old Mutual PLC
31 May 2000


                     OLD MUTUAL PLC
                            
     Jim Whelan appointed as Deputy Chairman of GNI

GNI,  the financial broking subsidiary of Old Mutual  plc
announces  the  appointment of  James  Whelan  as  Deputy
Chairman.

GNI,  the leading UK financial broking subsidiary of  Old
Mutual  plc, is pleased to announce that Jim  Whelan  has
been appointed as Deputy Chairman.

Jim  Whelan,  aged 46, has been a director of  GNI  since
March this year, and was previously a main board director
of  TXU Europe (formerly Eastern Group), a leading energy
business,  where  he was responsible  for  its  expansion
across  Europe.  Prior to this he was with  Glencore,  an
international commodity trading organisation.

Jim  brings  international experience of  developing  and
leading  businesses, especially in the areas  of  trading
and  financially-based commodities to the GNI group.   He
is   familiar   with  sophisticated  trading   and   risk
management  processes  and has run  multi-billion  dollar
portfolios of complex derivatives.

In  his  new  role, Jim will work closely  with  the  GNI
management  to  develop the business  in  new  geographic
areas  and  business lines. He will also play  a  leading
role  in the formation of Old Mutual's European expansion
and the platform for growth in the High Net Worth area of
the investment market.

Eric Anstee, Finance Director of Old Mutual plc, says:

'Jim's  experience of financially-based  commodities  and
trading   and   his  ability  to   expand   international
businesses will help us to develop and integrate GNI with
the Old Mutual group.'

ENQUIRIES:

Old Mutual plc                     Tel: [phone]
James Poole
Director of Corporate Communications
Old Mutual Investor Relations

College Hill                       Tel: [phone]
Corinna Dorward

NOTES TO EDITORS

Old  Mutual plc is a leading financial services group  in
southern Africa and has a leading position in UK  private
client  wealth  management, with  total  UK  funds  under
management  of £27 billion, having recently acquired  the
Gerrard Group plc.

In the UK, Old Mutual owns the Old Mutual securities, the
recently   merged  institutional  broking  and  corporate
finance businesses of Albert E Sharp Securities and Greig
Middleton.

GNI,  originally  part of the recently  acquired  Gerrard
Group,   offers  foreign  exchange,  derivative  broking,
international stock lending and fund management services.
More  information  on GNI can be found  on  its  websites
www.gni.co.uk or wwwgnifm.com.