UAM-Expiration Date Extension

Old Mutual PLC
19 September 2000

                         Old Mutual plc
                                
   Old Mutual Extends Tender Offer For United Asset Management
                           Corporation
                                
            New Expiration Date is September 21, 2000
                                
BOSTON (September 19, 2000) - Old Mutual plc announced today that
it has extended the expiration date for its cash tender offer for
all outstanding shares of common stock of United Asset Management
Corporation  (NYSE:  UAM).  The new expiration date is  Thursday,
September 21, 2000 at 5:00 p.m. EDT.

Old  Mutual  has  received  all  regulatory  approvals  that  are
conditions to the tender offer other than those of the Office  of
the  Comptroller  of  the Currency and the Maryland  Division  of
Financial Regulation, which Old Mutual believes will be  received
shortly.

As  previously announced, Old Mutual has determined,  based  upon
information  received from UAM, that there will  be  no  downward
price  adjustment  in  the tender offer if the  tender  offer  is
completed during the month of September.  The potential  downward
adjustment  will be recomputed if the tender offer  is  completed
subsequent to September.

As  of the previous expiration date of 5:00 p.m. EDT on September
18, 2000, approximately 53,152,852 shares of UAM common stock had
been  tendered, representing approximately 71.6%  of  UAM  common
stock on a fully-diluted basis.                                                 
               
                                                                 
                                                19 September 2000
                                                                 
Enquiries:

Old Mutual plc, London                    Tel:  + 44 20 7569 0100
James Poole, Director Investor Relations

College Hill, London                      Tel:  + 44 20 7457 2020
Nicholas Williams

Old Mutual, Cape Town                      Tel:  + 27 21 509 2732
Bruce Allen, Manager, Group Media Communications

College Hill, Johannesburg                 Tel:  + 27 11 447 3030
Kim Milnes