Change to Board of Directors of Chief Executive, e

Old Mutual PLC
4 July 2000


                           OLD MUTUAL PLC

   Clive Boothman joins Old Mutual to run private client business


Old  Mutual  has  appointed Clive Boothman, until  recently  Managing
Director  of  Schroders'  global Private Client  Group,  to  the  new
position of Chief Executive of the combined Capel Cure Sharp  ('CCS')
and  Greig Middleton ('GM') businesses.  Richard Bernays who has been
acting  CEO  of  both  CCS and GM becomes Chairman  of  the  combined
businesses.

Following the acquisition of GM's parent company, Gerrard Group  plc,
by  Old  Mutual  in  March,  the UK-based  Financial  Services  Group
announced plans to combine the private client stockbroking operations
of  GM  with its existing private client asset management and broking
business, CCS, acquired in 1998.  Together, the two firms will be the
largest  provider of specialised broking, investment  management  and
asset management products and services to individuals in the UK.

Clive Boothman has spent the majority of his career at Schroders.  He
started as an investment analyst and fund manager, going on to become
Managing  Director of Schroders' unit trust business, which he  built
up over ten years to become the largest mutual fund company in the UK
by  assets  under management.  Most recently, he has been responsible
for  Schroders' global private client businesses and Chairman of  the
London company, Schroder Personal Investment Management.

As  Chief  Executive of the combined CCS/GM, Clive  Boothman's  first
task  when  he  commences of 4th September will be  to  complete  the
integration  plan for combining and relaunching the  two  businesses.
Old  Mutual recently signed a lease on Millennium Bridge House in the
City of London, where the combined units will move in November.

Eric  Anstee, the Executive Director of Old Mutual plc in  charge  of
its  global  asset  management  and  financial  services  operations,
comments:

'Clive  Boothman's  appointment is a critical  further  step  in  the
creation of the UK's leading private client firm in the UK.  He has a
record  of  building  first class financial services  businesses  and
brands,  where client servicing is critical, and we look  forward  to
working  with  him  on  the exciting future for  our  private  client
businesses.'

Clive Boothman adds:

'I  am  very excited by this new challenge.  The Old Mutual Group  is
clearly intent on being a major player in financial services  in  the
UK  and  also  in Europe, the USA and Africa.  There  is  an  obvious
client need for a high quality service in this area of the market and
the combined CCS/GM firm has an excellent opportunity to build on its
already strong position to meet this.'

The appointment is subject to the normal regulatory approvals.


ENQUIRIES:

Old Mutual plc                                      Tel: [phone]
James Poole, Director of Corporate Communications

College Hill                                        Tel: [phone]
Gareth David




Notes to Editors

* June  19th  Old  Mutual announced a recommended  tender  offer  for
  United  Asset Managers Corp. of Boston, USA.  UAM has $188  billion
  under management in 42 affiliated fund management groups.

* June  16th  Old Mutual announces that John Ainsworth and team  from
  Hill  Samuel  Asset Management had joined to create  Gerrard  Asset
  Management,   incorporating   the   CCS   Unit   Trust   investment
  management.

* March  31st  completion of Gerrard Group brings total group  Assets
  under management in the UK to £27 billion.

* Jan  18th  Old Mutual announces a £525 million agreed  purchase  of
  specialist  financial  and fund management  company  Gerrard  Group
  plc.

* Old  Mutual  Asset Managers in London and Southern Africa  has  £40
  billion in Assets under Management.