Director/PDMR Shareholding

Old Mutual PLC
07 March 2007

Old Mutual plc

Ref 14/07


07 March 2007



   Share interests of persons discharging managerial responsibilities (PDMRs)



Old Mutual plc (the Company) announces the following changes in share interests
of its PDMRs.


1. Release of shares to Executive Directors under the Old Mutual Restricted
Share Plan


The following bonus matching awards, granted on 3 March 2004 under the Company's
Restricted Share Plan (RSP), relating to investment by Mr Roberts and Mr
Sutcliffe of some or all of their net cash incentives for the year ended 31
December 2003 in shares in the Company, were released on 5 March 2007 as a
result of the successful achievement of EPS-based performance targets:

Executive   No. of shares  No. of shares sold to cover    Sale        No. of
Director    released under income tax, employee National  price       shares
            the matching   Insurance Contribution                     retained
            award          liabilities and share dealing
                           costs
                                                         
J V F       35,695         14,686                        £1.64177     21,009
Roberts
J H         83,989         34,557                        £1.64177     49,432
Sutcliffe

 2. Option vesting to Executive Directors under the Old Mutual Share Option and
Deferred Delivery Plan (SOP)


The following options vested to Mr Roberts and Mr Sutcliffe on 3 March 2007 as a
result of the successful achievement of EPS-based performance targets:

Executive     Approved option      Unapproved option      Exercise    Expiry
Director      shares vested        shares vested          price       Date

J V F         120                  661,298                £0.9525   2 March 2010
Roberts                                                               
J H           -                    944,882                £0.9525   2 March 2010
Sutcliffe                                                             


3. Executive Directors' interests in Old Mutual plc ordinary shares and employee
share plans


The total numbers of shares in the Company held under option under the SOP and
the Old Mutual UK Sharesave Plan (SAYE) by Mr Roberts and Mr Sutcliffe are now
as follows:

Executive      Total no. of shares     No. of unvested       No. of vested
Director       under option            option shares         option shares

J V F          2,359,666               552,842               1,806,824
Roberts
J H            3,401,838               807,367               2,594,471
Sutcliffe


The total numbers of shares in the Company contingently held under the RSP by Mr
Roberts and Mr Sutcliffe are now as follows:

Executive   No. of Restricted Shares under   No. of Restricted Shares in respect
Director    the bonus matching arrangement   of deferred short-term incentives

J V F       292,514                          185,098
Roberts
J H         526,936                          266,738
Sutcliffe


The total numbers of shares in the Company in which the directors concerned
(together with their connected persons, for the purposes of section 346 of the
UK Companies Act 1985) are now beneficially interested (excluding the RSP awards
described above which have not yet vested and all unexercised share option
shares) are as follows:

Executive Director                    Old Mutual plc shares
J V F Roberts                         583,552
J H Sutcliffe                         1,368,403


4. Option vesting under the SOP to other PDMRs


The following options vested (all with an exercise price of £0.9525 per share)
to PDMRs on 3 March 2007 as a result of the successful achievement of EPS-based
performance targets:

PDMR     Role of PDMR                Approved option  Unapproved option Expiry
                                     shares vested    shares vested     Date
H        CEO, Asia-Pacific           -                 472,441          2 March
Askari                                                                  2010

G        Chief Executive, Old Mutual -                 355,012          2 March
Barker   Financial Network (US)                                         2010

R M      Group Director, Southern    -                 433,071          2 March
Head     Africa                                                         2010

M C      Company Secretary           -                 45,473           2 March
Murray                                                                  2010

M H      Director, Group Corporate  120                53,030           2 March
Newman   Affairs                                                        2010

S F      Chief Executive, Old Mutual -                 532,518          2 March
Powers   (US)                                                           2010


5. Exercise of an option by a PDMR


Mr Askari exercised the following options under the SOP on 5 and 6 March 2007:

PDMR     Date of    Approved       Unapproved     Exercise   No. of   No. of
         exercise   option shares  option shares  price      shares   shares
                    exercised      exercised                 sold     retained

H        5 March    -              486,958        £0.8625     -       486,958
Askari   07

H        6 March    34,782          -             £0.8625     -       34,782
Askari   07


6. Vesting of Deferred Delivery Shares under the SOP to PDMRs


The following deferred delivery awards vested to Mr Bicket and Mr Hanratty on 3
March 2007 as a result of the successful achievement of EPS-based performance
targets:

PDMR       Role of PDMR                Deferred Delivery     Award     Expiry
                                       Shares vested         price     Date

N Bicket   Director of the CEO's       47,700                R11.77    2 March
           office                                                      2010

P          Managing Director, Old      648,365               R11.77    2 March
Hanratty   Mutual South Africa                                         2010


7. Net settlement of Deferred Delivery Awards by PDMRs


Deferred delivery awards held under the SOP were net settled by PDMRs as
follows:

PDMR       No. of shares Original   Award price          Date of net  Net
           net settled   grant      (Escalated where     settlement   settlement
                         date       applicable)                       price

N Bicket   72,600        4 March    R15.15               1 March      R24.42
                         2002                            2007

N Bicket   142,507       26         R11.15               1 March      R24.42
                         February                        2007
                         2003

P          175,000       3 March    R11.77               6 March      R24.00
Hanratty                 2004                            2007


8. Net settlement of a Restricted Share Award by a PDMR


Mr Bicket net settled the following restricted share award under the RSP on 1
March 2007:

PDMR       No. of shares net          Original grant       Net settlement
           settled                    date                 price

N Bicket   28,502                     26 February 2003     R24.42


9. Vesting of Restricted Share Awards to PDMRs


The following restricted share awards vested to PDMRs on 5 March 2007:

PDMR        No. of shares      No.of shares     Sale        No. of shares
            vested             sold             price       retained

G Barker    65,648             26,352           £1.64177    39,296
N Bicket*   42,930             -                -           42,930
P Hanratty* 64,837             -                -           64,837
M H         42,519             17,494          £1.64177     25,025
Newman
M C         36,377             16,377          £1.64177     20,000
Murray
S F         123,234            51,631          £1.64177     71,603
Powers


* Mr Bicket and Mr Hanratty have not yet taken delivery of their restricted
shares that vested on 5 March 2007.


10. PDMRs' interests in Old Mutual plc ordinary shares and employee share plans


The total numbers of shares in the Company held under option under the SOP and
SAYE by the PDMRs detailed below are now as follows:

PDMR       Total no. of shares      No. of unvested option No. of vested option
           under option             shares                 shares
H Askari   472,441                   -                     472,441
G Barker   1,400,346                255,579                1,144,767
N Bicket   51,725                   51,725                 -
P          159,484                  159,484                -
Hanratty
R M Head   942,445                  509,374                433,071
M C        176,956                  81,483                 95,473
Murray
M H        497,331                  6,111                  491,220
Newman
S F        3,424,320                -                      3,424,320
Powers



The total numbers of shares in the Company held as deferred delivery awards
under the SOP by the PDMRs detailed below are now as follows:

PDMR        Total no. of deferred delivery    No. of vested deferred delivery
            shares                            shares
N Bicket    47,700                            47,700
P           473,365                           473,365
Hanratty


The total numbers of shares in the Company contingently held under the RSP by
the PDMRs detailed below are now as follows:

PDMR       Total restricted   No. of vested restricted  No. of unvested
           shares             shares                    restricted shares
H Askari   144,164            -                         144,164
G Barker   99,217             -                         99,217
N Bicket   65,418             42,930                    22,488
P          219,757            108,679                   111,078
Hanratty
R M Head   146,082            -                         146,082
M C        43,755             -                         43,755
Murray
M H        57,324             -                         57,324
Newman
S F        1,329,517          -                         1,329,517
Powers


The total numbers of shares in the Company held under option under the OMSA
Management Incentive Share Plan (MISP) by the PDMRs detailed below are as
follows:

PDMR          Total no. of shares under option   No. of unvested option shares
N Bicket      55,962                             55,962
P Hanratty    181,871                            181,871


The total numbers of restricted shares in the Company held under the MISP by the
PDMRs detailed below are as follows:

PDMR            Total no. of shares under award     No. of unvested shares
N Bicket        23,073                              23,073
P Hanratty      94,279                              94,279


The total numbers of shares in the Company in which the PDMRs below, (together
with their connected persons, for the purposes of section 346 of the UK
Companies Act 1985) are beneficially interested is as follows (excluding
non-vested RSP awards and unexercised shares held under option):

PDMR                         Old Mutual plc shares
H Askari                     540,948
N Bicket                     800
P Hanratty                   1,000
R M Head                     311,307
M C Murray                   120,000
M H Newman                   42,675
S F Powers                   445,532


11. PDMR's Option lapse under the Nedbank Group (2005) Share Option, Matched
Share and Restricted Share Scheme


On 22 February 2007, the following options over shares in Nedbank Group Limited,
in favour of Mr Boardman, Chief Executive of Nedbank Group Limited, lapsed as a
result of the performance targets attached to the options not being met.  These
options were due to vest on 1 April 2007.

PDMR              Original grant date            Option shares lapsed
T A Boardman      1 April 2003                   10,000
T A Boardman      1 April 2003                   4,167



12. Option grant to a PDMR under the Nedbank Group (2005) Share Option, Matched
Share and Restricted Share Scheme


The following option over shares in Nedbank Group Limited was granted by Nedbank
Group Limited to Mr Boardman on 27 February 2007:

PDMR         Option shares        Exercise       Vesting date    Expiry Date
             granted              price
T A          72,765               R144.30        28 February     28 February
Boardman                                         2010            2012


The total number of Nedbank Group Limited shares held by Mr Boardman under
option under the Nedcor Group (1994) Employee Incentive Scheme and the Nedbank
Group (2005) Share Option, Matched Share and Restricted Share Scheme is 695,257,
of which 152,492 have vested.


Notes to Editors


Old Mutual


Old Mutual plc is an international savings and wealth management company based
in the UK. Originating in South Africa in 1845, the group has a balanced
portfolio of businesses offering asset management, life assurance, banking and
general insurance services in over 40 countries, primarily South Africa, Europe
and the United States. Old Mutual is listed on the London, Johannesburg and
Stockholm stock exchanges, among others.


By conducting its business worldwide under its core values of integrity, respect
and accountability, Old Mutual aspires to push beyond boundaries to drive value
for all its stakeholders.


In the year ended 31 December 2006, the group reported an increase in adjusted
operating profit of 16% to £1.4 billion (IFRS basis) and had £239 billion of
funds under management. The Company has approximately 53,000 employees.


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


Enquiries

Investor Relations
Malcolm Bell                 UK        [phone]
Deward Serfontein            SA        +27 (0)21   509 8709

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








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