Termination of Negotiations

Old Mutual PLC
11 March 2008



Ref 62/08

11 March 2008


                    TERMINATION OF NEGOTIATIONS ON POTENTIAL
                            SALE OF MUTUAL & FEDERAL


The Board of Old Mutual plc (Old Mutual) and Royal Bafokeng Holdings (RBH) have
agreed to terminate their discussions on the sale of Old Mutual's shares in
Mutual & Federal to RBH.

Old Mutual and RBH were unable to agree mutually acceptable terms in the current
economic environment.

Jim Sutcliffe, Old Mutual Group Chief Executive, said:

'We are confident that Mutual & Federal's management will continue to deliver
strong performance and returns. Our strategy is to focus on our core asset
management activities. Meanwhile, we will only consider transactions that fully
reflect value for our shareholders'.


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

Enquiries

Investor Relations
Aleida White                   UK        [phone]
Deward Serfontein              SA        [phone]

Media
Nicholas Bicket                UK        [phone]
Nad Pillay                     SA        + 27 (0)21 504 8026











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