Result of Equity Issue

Old Mutual PLC
20 November 2000

                                                        
                            
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, OR INTO,
               THE UNITED STATES OR CANADA

This  announcement  does  not  constitute  an  offer   of
securities for sale in the United States. The information
contained  herein is not for publication or  distribution
to  persons in the United States. The New Ordinary Shares
have  not been and will not be registered under the  U.S.
Securities Act of 1933 (the 'Securities Act') and may not
be  offered or sold in the United States unless they  are
registered   with  the  U.S.  Securities   and   Exchange
Commission   or  pursuant  to  an  exemption   from   the
registration requirements of the Securities Act.
                            
                            
                     OLD MUTUAL PLC
                            
                            
 Result of placing of new ordinary shares of Old Mutual
                plc to raise $220 million
and of approximately 25 million existing ordinary shares


Further  to the announcement made earlier today regarding
the  cash  placing of New Ordinary Shares in  Old  Mutual
plc, the placing price and the size of the issue have now
been   determined   following  the  completion   of   the
bookbuilding process.

Old  Mutual  confirms that 130,391,732 shares  have  been
placed  at  147p per share to raise approximately  £191.7
million.  This  comprises the issue  of  105,000,000  New
Ordinary  Shares  and  the  sale  of  25,391,732   shares
(representing  the balance of shares held  in  connection
with  satisfying  claims  and  errors  in  the  Company's
demutualisation in May 1999 now available  to  be  sold).
The   New   Ordinary   Shares  being   issued   represent
approximately  3 per cent. of Old Mutual's  issued  share
capital prior to the placing.

The  placing  is  conditional on  admission  of  the  New
Ordinary Shares to listing on the Official List of the UK
Listing  Authority  and to trading on  the  London  Stock
Exchange.  It  is  expected that  admission  will  become
effective on Monday 27 November 2000.


Enquiries:

Old Mutual plc
Julian Roberts, Group Finance Director      [phone]
James Poole, Director, Investor Relations
[phone]

Merrill Lynch                               [phone]
Guy Short
Michael Rowan

UBS Warburg                                 [phone]
Oliver Pawle
Jim Renwick

College Hill, London                        [phone]
Gareth David
Nicholas Williams

College Hill, Johannesburg                  [phone]
Kim Milnes



This  announcement has been issued by  and  is  the  sole
responsibility  of the Company. UBS Warburg  and  Merrill
Lynch are each acting for the Company and no one else  in
relation  to  the placing and will not be responsible  to
anyone   other   than  the  Company  for  providing   the
protections afforded to their customers nor for providing
advice in relation to the placing.