Nedcor/NIB Further Cautionary

Old Mutual PLC
26 June 2002

                                 OLD MUTUAL PLC



            Nedcor Limited (NED SJ)/ Nedcor Investment Bank (NIB SJ)

                        Further cautionary announcement



Further to the cautionary announcement dated 28 May 2002, Old Mutual draws
shareholders' attention to the further cautionary announcement issued today by
its subsidiary Nedcor Limited ('Nedcor'), the South African banking group, in
which it has a 53% holding, in relation to its holding in Nedcor Investment Bank
('NIB').



The full text of the Nedcor announcement is available on SENS, the JSE
Securities Exchange News Service and on Old Mutual's website, www.oldmutual.com.
A paper copy of the full Nedcor announcement is available from Investor
Relations, Old Mutual Plc, 3rd Floor, 57 Berkeley Square, London W1J 6ER.





26 June 2002



ENQUIRIES:


Old Mutual, London                                   Tel: [phone]

James Poole


College Hill, London                                 Tel: [phone]

Tony Friend



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