Alliance with Computer Sciences Corporation

OLD MUTUAL PLC
29 October 1999

                        OLD MUTUAL PLC
                               
     OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH  AFRICA) LTD
    ENTERS INTO ALLIANCE WITH COMPUTER SCIENCES CORPORATION
                               
EL  SEGUNDO,  Calif.  And Cape Town,  SA  -  Old  Mutual  Life
Assurance  Company  (South  Africa)  Ltd  ('Old  Mutual')  and
Computer Sciences Corporation ('CSC') today announced a seven-
year   information  technology  (I/T)  management   agreement.
Estimated value of the agreement over the full seven years  is
approximately USD 300 million (R2.1 billion).

The  agreement  calls for CSC to  manage  Old  Mutual's  South
African  I/T  infrastructure including mainframe and  midrange
computers,  servers, desktops, help-desk and  system  software
support  and  will  form  the basis  of  CSC's  infrastructure
delivery  capability  throughout  the  South  African  market.
Formal  transition of I/T operations from Old  Mutual  to  CSC
will occur November 1.

As  part of the agreement, an estimated 430 staff employed  by
or  contracted  to  Old Mutual  South Africa  will  join  CSC.
Existing alliances that Old Mutual has established with  other
information  technology organisations  such  as  Omnilink  and
Uskotec will not be impacted.

According  to Gerhard van Niekerk, managing director  for  Old
Mutual  South  Africa,  'Old Mutual's  objective  to  maximise
shareholder value is fundamental to the alliance. This will be
achieved  through  reduced costs, improved  productivity,  and
through  participating  in the further  development  of  CSC's
business in South Africa. At the same time, Old Mutual will be
able  to  place additional focus on the strategic exploitation
of  technology-based solutions to meet our  customers  current
and emerging needs. '

At  a  media  briefing in Cape Town today,  Old  Mutual  chief
information  officer, Vic Lumby, said the alliance  will  give
Old Mutual access to CSC's international practices, procedures
and  skills.   'We recognise that efficient use of information
technology  is  essential to Old Mutual  remaining  a  leading
financial  services  group  in  South  Africa.  As   our   I/T
infrastructure services partner, CSC can bring huge advantages
in  terms  of  flexibility and responsiveness  in  a  changing
market.  The greater experience and economies of scale brought
to bear will further increase Old Mutual's competitiveness.

'Services, service levels and pricing will reflect  the  needs
of  Old  Mutual's business units and we anticipate real,  long
term  operational savings. End user satisfaction will increase
as   will  the  professional  development  opportunities   for
transitioning  staff. Most importantly  we  will  continue  to
focus internally on the design, development and integration of
business systems to meet market and customer needs.'

Added  Van  B.  Honeycutt, CSC president, chairman  and  chief
executive  officer,  'This  deal makes  CSC  the  leading  I/T
services  provider in South Africa. Old Mutual is the  largest
financial services company in South Africa and is on a dynamic
course  of  growth.   Our goal is to support  their  ambitious
plans    by    creating   a   more   efficient,    streamlined
infrastructure.'

Honeycutt  noted  that  as  part of  the  agreement,  CSC  has
appointed  its first country manager to oversee all activities
in  South  Africa. Martin Vergunst has been  named  CSC's  new
division managing director, African region.

'Since 1991, CSC has successfully integrated people, processes
and  services  for  more  than 80 companies  through  sourcing
agreements, embracing best practices and innovations for  each
company.  This  agreement makes CSC an  I/T  leader  in  South
Africa  and  the alliance will clearly strengthen and  support
CSC's  presence and aggressive expansion plans in the region,'
Vergunst said.

Vergunst  added  that CSC's flexible culture and  demonstrated
I/T  excellence will improve customer service,  reduce  costs,
streamline  Old  Mutual's I/T infrastructure and  improve  its
global delivery capability.

'As I/T requirements in the financial services industry become
more  complex and sophisticated, CSC is positioning itself  to
provide  added value by formulating business strategy, driving
business   processes,  enabling  innovation  and  transforming
competitive models,' Vergunst said.

Issued by:     Bruce Allen
               Head: Group Media Communication
               Old Mutual South Africa
               Tel: [phone]
               Cel: 082 453 8298
               E-mail: [e-mail]

On behalf of:  Old Mutual and CSC Computer Sciences

Contact:       Vic Lumby
               Chief Information Officer
               Old Mutual South Africa
               Tel: [phone]

               Martin Vergunst
               Managing Director
               CSC South African Division
               Tel: [phone]
               Cel: 082 903 0518
               E-mail: [e-mail]
               
               Juliet Kimlim
               Marketing Business Manager
               CSC EMEA
               Tel: [phone]
               Cel: [phone]
               E-mail: [e-mail]
               
               Nicholas Williams
               College Hill
               Tel: [phone]
               Email: [e-mail]

NOTES TO EDITORS

Old  Mutual plc is an international financial services  group,
based in London, with a substantial life assurance business in
southern  Africa and an integrated portfolio of activities  in
asset  management (including unit trusts, portfolio management
and stockbroking services), banking and general insurance.

On  12  July 1999, Old Mutual plc listed successfully  on  the
London,  Johannesburg,  Namibia,  Malawi  and  Zimbabwe  Stock
Exchanges.  On 20 September, Old Mutual joined  the  FTSE  100
Share Index.

Together  with  its  two JSE listed subsidiaries,  Nedcor  and
Mutual & Federal, Old Mutual is the leading financial services
group in southern Africa, measured by total assets. In the UK,
Old  Mutual's  interests  include Old  Mutual  Asset  Managers
(OMAM), Capel-Cure Sharp and Albert E. Sharp Securities.

Based  on  the  recent share price of 130p, Old Mutual  had  a
market capitalisation of £4.5 billion. As at 30 June 1999, Old
Mutual's embedded value was £4.7 billion, an increase  of  34%
over  the  value at 31 December 1998. Total third party  funds
under  management, as at 30 June 1999, were in excess  of  £40
billion.

For  more  information,  visit  the  company's  web  site   at
www.oldmutual.com.


Computer  Sciences Corporation helps clients in  industry  and
government use information technology to achieve strategic and
operational  objectives.  With 52,000 employees in  more  than
700  offices worldwide, the company tailors solutions  from  a
broad  suite  of  integrated service offerings,  including  e-
business  strategies  and  technologies;  management  and  I/T
consulting;  systems consulting and integration; and  I/T  and
business process outsourcing.

Since  its  formation  in 1959, CSC has  been  known  for  its
flexibility in its relationships with clients.  CSC has formed
similar  alliances  with  a  number of  world-class  companies
including   British  Aerospace,  JP  Morgan,  DuPont,   Hughes
Electronics,  General  Dynamics  and  NASA.  Through  numerous
agreements  with hardware and software technology  firms,  the
company  is able to identify and manage solutions specifically
tailored  to  each  client's needs.  CSC had  revenues  of  $8
billion  for  the  twelve  months ended  July  2,  1999.   Its
headquarters are in El Segundo, California.

CSC  Computer Sciences (South Africa) is based in  Cape  Town.
Currently  CSC  has about 70 I/T employees  in  South  Africa.
Banking  customers  include  Nedcor  Bank,  ABSA  and  FNB,  a
division  of  the FirstRand banking group, where CSC  provides
systems  integration  and  product  support  for  various  CSC
software  applications.   In  addition,  CSC  is  part  of  an
innovative joint venture with Hollard Life Assurance, offering
group  benefits  products  for the rapidly  changing  employee
benefits  market in South Africa.  CSC provides  state-of-the-
art  administration  systems  and  back-office  processing  to
Hollard.

CSC's Financial Services Group offers a comprehensive array of
business  and technology solutions which support  the  complex
requirements   of  the  evolving  global  financial   services
industry.   Customers include more than 1,000 banks, insurers,
investment  firms, consumer finance companies and other  major
financial services organisations around the globe.

For  more  information,  visit  the  company's  web  site   at
www.csc.com