Shares in Issue

Old Mutual PLC
14 July 2003

                                 OLD MUTUAL PLC

                           Number of Shares in Issue



Old Mutual plc ('the Company') announces that a total of 3,832,260,238 shares in
the Company were in issue at 30 June 2003.  Changes since 31 December 2002 were
as follows:




Number of shares in issue at 31 December 2002                                               3,782,506,372


Shares issued during the period on exercise of executive share options                            186,121


Shares issued during the period on exercise of sharesave options                                   47,745


Shares issued on 12 March 2003 under placing announced on 6 March 2003                         49,520,000


Shares in issue at 30 June 2003                                                             3,832,260,238





The above figures for shares issued on exercise of options relate to shares
issued under the Company's Share Option and Deferred Delivery Plan and
Savings-Related Share Option Scheme, together with shares in the Company issued
on exercise of rollover executive and sharesave options arising from the
acquisition of Gerrard Group plc in 2000.





                                                                    14 July 2003



Enquiries

James Poole, Investor Relations Director

Tel: [phone]


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