Board of Directors - Nedcor

Old Mutual PLC
09 October 2002

                                 OLD MUTUAL PLC

                      Board of directors - Nedcor Limited


Old Mutual draws attention to the announcement made today by Nedcor Limited 
('Nedcor'), the South African banking group in which it has a 53.2% holding,
outlining the changes to the board of directors. The changes follow from the
recent merger with BoE Ltd and the associated group restructuring including the
delisting of Nedcor Investment Bank Holdings Ltd (NIB).

The full text of Nedcor's announcement is available on the JSE Securities
Exchange News Service (SENS) and also on Old Mutual's website,
www.oldmutual.com. A paper copy of the full Nedcor announcement is available
from Investor Relations, Old Mutual plc, 3rd Floor, Lansdowne House, 57 Berkeley
Square, London W1J 6ER.


                                                                  9 October 2002



ENQUIRIES:


Old Mutual, London                    Tel: [phone]
James Poole
Zoleka Mzimba


College Hill, London                  Tel: [phone]
Tony Friend



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