Dealings in Securities

Old Mutual PLC
09 September 2002


                                 OLD MUTUAL PLC

    Dealings in securities of Nedcor Limited by a director of Old Mutual plc

Old Mutual plc has been informed, by a message received today, of the following
dealings in the ordinary shares of its 53% owned banking subsidiary, Nedcor
Limited, by Mr. Richard Laubscher, who is CEO of Nedcor Limited and also an
executive director of Old Mutual plc.

Date of transaction                6 September 2002
Nature of trade                    Shares purchased from the Nedcor Group (1994) Employee Share Purchase
                                   Trust on exercise of ten-year expiring options
Number of shares                   86,300
Purchase price                     R15.60 per share

Date of transaction                6 September 2002
Nature of trade                    Shares purchased from the Nedcor Group (1994) Employee Share Purchase
                                   Trust on exercise of ten-year expiring options
Number of shares                   100,000
Purchase price                     R14.87 per share

The above share options were granted by Nedcor Limited to Mr. Laubscher in
January 1992 and September 1992 respectively at the ruling market prices as part
of standard allocations of options to staff.

Mr. Laubscher has indicated that he will be retaining the net shares purchased
through the exercise of these options, having sold the following shares to
settle some of the costs arising from the exercise:

Date of transaction                9 September 2002
Nature of trade                    Shares sold via a market intermediary on the JSE Securities Exchange
                                   South Africa
Number of shares                   43,500
Selling price                      R99.32 per share



The effect of the abovementioned share transactions may be summarised as
follows:

Percentage of the issued shares of Nedcor Limited purchased                                0.071%
Percentage of the issued shares of Nedcor Limited sold                                     0.017%
Total number of shares in Nedcor Limited held by Mr. Laubscher                             375,047

following the purchases and sale
Percentage of issued shares of Nedcor Limited represented by                               0.144%

Mr. Laubscher's total holding

A similar announcement relating to the above matters was made by Nedcor Limited
to the JSE Securities Exchange South Africa earlier today.

                                                                9 September 2002


Enquiries:

Old Mutual plc
Mr Martin Murray                                     Tel: [phone]

College Hill
Nicholas Williams                                    Tel: [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange