Appointment CEO US Life

Old Mutual PLC
2 March 2001





                                OLD MUTUAL PLC

         Guy Barker appointed as Chief Executive of US Life business

Old Mutual plc ('Old Mutual') is pleased to announce a new management
structure for its US Life business, aimed at strengthening the Group's
international financial services capabilities.

Guy Barker has been appointed Chief Executive of Old Mutual's US Life
business. Prior to his appointment Guy had several years of experience in the
US market as Chief Actuary of Jackson National Life in Lansing, Michigan. More
recently he was Managing Director of NatWest Life in the UK from 1995 until
2000, when he joined Old Mutual as Managing Director, Developed Markets.

Guy, who has assembled a very strong and experienced sales and marketing
oriented team to build the business, has today announced a signing of the
agreement for the acquisition of Unified Life Insurance Company of Texas.
Unified is licensed in 43 states, and will form the base for an annuity and
term insurance business to be launched in the second quarter of 2001.

Jim Sutcliffe, Chief Executive, Life, of Old Mutual said:

'I am very pleased to have Guy and his excellent team on board. Upon the
acquisition of Unified and its broad spread of licences, we will be able to
start operations quickly. We believe the new management team can make a strong
contribution to Old Mutual's US operations within the near future.'

                                                                  2 March 2001



ENQUIRIES:
Old Mutual plc, London                               Tel: [phone]

James Poole, Director, Corporate Communications
Old Mutual, Cape Town                                Tel: [phone]

Bruce Allen, Manager, Group Media Communications
College Hill, London                                 Tel: [phone]

Nicholas Williams