UAM-Expiration Date Extension

Old Mutual PLC
22 September 2000

                       Old Mutual plc
                              
 Old Mutual Extends Tender Offer For United Asset Management
                         Corporation
                         
          New Expiration Date is September 25, 2000
                              
                              
BOSTON (September 22, 2000) - Old Mutual plc announced today
that it has extended the expiration date for its cash tender
offer  for all outstanding shares of common stock of  United
Asset   Management  Corporation  (NYSE:   UAM).    The   new
expiration date is Monday, September 25, 2000 at  5:00  p.m.
EDT.

Based  upon  information received from UAM, Old  Mutual  has
determined that all conditions to the tender offer  relating
to  the  receipt of UAM client consents have been satisfied.
In  addition,  the  approval of only one  regulatory  agency
remains  to  be received in order for all of the  regulatory
approval conditions to the tender offer to be satisfied.

As  previously  announced, Old Mutual has determined,  based
upon  information received from UAM, that there will  be  no
downward price adjustment in the tender offer if the  tender
offer  is  completed  during the month  of  September.   The
potential  downward  adjustment will be  recomputed  if  the
tender offer is completed subsequent to September.

As  of  the  previous expiration date of 5:00  p.m.  EDT  on
September 21, 2000, approximately 55,161,922 shares  of  UAM
common  stock  had been tendered, representing approximately
74.3% of UAM common stock on a fully-diluted basis.

The  minimum  tender condition will be satisfied  if  shares
representing  a majority of UAM's outstanding  common  stock
(on a fully-diluted basis) are validly tendered prior to the
expiration  date.  If Old Mutual acquires 90%  of  the  then
outstanding UAM common stock, Old Mutual intends to effect a
'short-form' merger as promptly as practicable following the
tender offer.  However, if Old Mutual acquires less than 90%
of  the  then outstanding UAM common stock by means  of  the
tender offer or otherwise, Old Mutual will need to follow  a
'long-form' merger process.

                                           22 September 2000

Enquiries:

Old Mutual plc, London               Tel:  + 44 20 7569 0100
James Poole, Director Investor Relations

College Hill, London                 Tel:  + 44 20 7457 2020
Nicholas Williams

Old Mutual, Cape Town                 Tel:  + 27 21 509 2732
Bruce Allen, Manager, Group Media Communications

College Hill, Johannesburg            Tel:  + 27 11 447 3030
Kim Milnes