Dividend Currency Conversion

Old Mutual PLC
03 October 2003

OLD MUTUAL PLC



             Interim Dividend for the six months ended 30 June 2003

                              Currency Conversion



In the interim results announcement of Old Mutual plc for the six months ended
30 June 2003 published on 7 August 2003, the directors declared an interim
dividend of 1.7p per share or its equivalent in other currencies of payment
using the exchange rates prevailing on 2 October 2003.



The local currency equivalents of the proposed dividend have now been
established and are as follows:


South Africa                                 19.47   South African cents per share
Malawi                                       3.0451 Malawi Kwacha per share
Namibia                                      19.47   Namibian cents per share
Zimbabwe                                     23.3976 Zimbabwean dollars per share



The interim dividend will be paid on 28 November 2003.



The record date for this dividend payment is close of business on Friday, 17
October 2003 for all the exchanges where Old Mutual shares are listed. The
shares will trade ex dividend from the opening of business on Monday, 13 October
2003 on the JSE Securities Exchange South Africa ('JSE') and the Malawi,
Namibian and Zimbabwe Stock Exchanges and the opening of business on Wednesday,
15 October 2003 on the London Stock Exchange.



The last day to trade cum dividend on the JSE and other African exchanges will
be Friday, 10 October 2003.



Share certificates may not be dematerialised or rematerialised on the South
African branch register between Monday, 13 October 2003 and Friday, 17 October
2003, both dates inclusive, and transfers between the registers may not take
place during that period.





                                                                  3 October 2003


ENQUIRIES:


Old Mutual plc, London
James Poole, Director Investor Relations                                Tel: + 44 20 70027000


Transfer Secretaries / Registrars


Computershare Investor Services Bristol call centre:                    Tel: [phone]


Computershare Johannesburg call centre:                                 Tel: [phone]


Nico Corporate Finance
Malawi call centre:                                                     Tel: + 265 623 856


Transfer Secretaries (Pty) Limited

Namibian call centre:                                                   Tel: + 264 61 227647


Corpserve (Private) Limited
Zimbabwe call centre:                                                   Tel: [phone]




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