Appointment of new Chairman

Old Mutual PLC
17 December 2004


                                 Old Mutual plc


                          Appointment of new Chairman



Old Mutual plc announces that the Company's Chairman, Mike Levett, has confirmed
his intention to retire from the Board at the conclusion of the Annual General
Meeting on 11 May 2005.


Mike Levett has been with the Old Mutual Group for 46 years.


He has been Chairman of Old Mutual plc since the demutualisation and listing of
the Group in 1999. He had previously been Chairman and Chief Executive of the
predecessor mutual entity, the South African Mutual Life Assurance Society from
1990.


During his period as Chairman of Old Mutual plc, he has led the Group's
transformation from its South African roots into a leading international
financial services company with operations in the UK, the USA and the Far East,
in addition to its major life assurance, short term insurance, banking and
investment businesses in South Africa. Old Mutual now has one-third of its
business in the USA and some fast growing businesses in the UK.


The Company is also pleased to announce that Christopher Collins has agreed to
succeed Mike Levett as Chairman of the Board at the end of the AGM on 11 May
2005.


Chris Collins (64) is currently the Senior Independent Director, having been a
director of the Company since 1999, and is an experienced FTSE 100 Chairman. In
April 2005, prior to taking up this appointment, he will step down as Chairman
of Hanson plc, a role he has held since 1998. He was previously Executive Vice
Chairman while the company transformed from a diversified conglomerate into a
focused building materials company. He is also a director of Forth Ports PLC,
Alfred McAlpine PLC and The Go-Ahead Group plc.


Chris Collins said:


'Following Mike Levett as Chairman of Old Mutual is a great honour. He has made
an immense contribution to the growth of the company into the international
Group it is today. I very much look forward to playing my part in the next stage
of the company's growth both in South Africa and around the world'.


                                                                17 December 2004



Enquiries:


Old Mutual plc UK

James Poole                 [phone]

Miranda Bellord             [phone]


Old Mutual plc SA

Nad Pillay                    [phone]



Notes to Editors:


Mike Levett B.Com., D.Econ.Sc. (hc), FIA, FFA, FASSA


Non-executive Chairman, having previously held the role of Chairman and Chief
Executive until October 2001. He has also been Chairman of the Nomination
Committee since February 2003. He joined the Group in 1959. He is a
non-executive director of Barloworld Limited, Central Africa Building Society,
Mutual & Federal Insurance Company Limited, Nedcor Limited, Old Mutual South
Africa Trust plc and SABMiller plc.


Christopher Collins FCA


Non-executive director of the Company since March 1999 and became the senior
non-executive director in February 2003. He chairs the Remuneration Committee.
He has been Chairman of Hanson PLC since 1998, having previously been
Vice-Chairman from 1995. His international experience includes working as a
Hanson PLC representative in Australia. He is Chairman of Forth Ports PLC and a
non-executive director of The Go-Ahead Group plc and of Alfred McAlpine PLC.



Downloadable photographs are available at

http://www2.oldmutual.com/Media/media_resources/photo_library/index.jsp



For further details about Old Mutual plc visit www.oldmutual.com







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