Director/PDMR Shareholding

Old Mutual PLC
23 March 2007

                                 Old Mutual plc

16/07

23 March 2007


    Share interests of a person discharging managerial responsibilities (PDMR)


Old Mutual plc (the Company) announces the following changes in share interests
                                   of a PDMR

Exercise of an option by a PDMR

Mr T A Boardman, Chief Executive of Nedbank Group Limited exercised the
following option under the Nedcor Group (1994) Employee Incentive Scheme on 16
March 2007 and sold all of the shares as follows:

PDMR       Date of    Shares      Exercise   Sale      Gain made    Total gain
           exercise   exercised   Price      Price     per share
                                 
T A        16 March   26,292      R60.00     R130.13   R70.13       R1,843,857
Boardman   07


The total number of Nedbank Group Limited shares held by Mr Boardman under
option under the Nedcor Group (1994) Employee Incentive Scheme and the Nedbank
Group (2005) Share Option, Matched Share and Restricted Share Scheme is 668,965,
of which 126,200 have vested. Mr Boardman also holds 25,098 Nedbank Group
Limited Ordinary shares and 85,000 Nedbank Limited preference shares.


Notes to Editors

Old Mutual

Old Mutual plc is an international savings and wealth management company based
in the UK. Originating in South Africa in 1845, the group has a balanced
portfolio of businesses offering asset management, life assurance, banking and
general insurance services in over 40 countries, primarily South Africa, Europe
and the United States. Old Mutual is listed on the London, Johannesburg and
Stockholm stock exchanges, among others.

By conducting its business worldwide under its core values of integrity, respect
and accountability, Old Mutual aspires to push beyond boundaries to drive value
for all its stakeholders.

In the year ended 31 December 2006, the group reported an increase in adjusted
operating profit of 16% to £1.4 billion (IFRS basis). Old Mutual had £239
billion of funds under management at 31 December 2006, and 53,000 employees.

For further information on Old Mutual plc, please visit the corporate website at
www.oldmutual.com

Enquiries

Investor Relations
Malcolm Bell                 UK        [phone]
Deward Serfontein            SA        [phone]

Media
James Crampton               UK        [phone]
Nad Pillay                   SA        + 27 (0)21 504 8026







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