Statement re Possible Offer

Old Mutual PLC
13 May 2005


Response to Press Speculation



Old Mutual plc ('Old Mutual') confirms that it is in preliminary discussions
with Skandia concerning a potential transaction. Discussions are at an early
stage and may or may not lead to Old Mutual making an offer for Skandia.


Further announcements will be made in the event of any material developments.


                                                                     13 May 2005


Enquiries:


Old Mutual plc                                       +44 (0 ) 20 7002 7000

James Poole

Miranda Bellord


College Hill                                         [phone]

Alex Sandberg

Tony Friend


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