BEE Scheme of arrangement

Old Mutual PLC
18 July 2005


Court confirms scheme of arrangement relating to Old Mutual plc's Black Economic
                     Empowerment (BEE) ownership proposals


The UK High Court today confirmed a scheme of arrangement under section 425 of
the UK Companies Act 1985 relating to Old Mutual's BEE ownership proposals. This
followed the strong support shown by shareholders for those proposals at the
Extraordinary General Meeting and Court Meeting of Old Mutual plc held in London
on 6 July 2005.

Jim Sutcliffe, Chief Executive, said, 'We are pleased that another important
step has been taken in the process for approving our BEE ownership proposals. We
shall now be voting our shareholdings in Nedbank Group Limited and Mutual &
Federal Insurance Company Limited in favour of their respective BEE ownership
deals which are to be considered at Extraordinary General Meetings on 22 July
2005, and we are on track to complete the implementation of all three BEE
ownership deals early in August.'

                                                                    18 July 2005


ENQUIRIES:

Old Mutual plc UK
Miranda Bellord     [phone]

Old Mutual plc SA
Nad Pillay          [phone]


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



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