Director's Share Interests

Old Mutual PLC
15 January 2003


Director's interests in preference shares in a subsidiary of Old Mutual plc (the
                                   'Company')

The Company has been informed, by a communication received today, that Mr C F
Liebenberg, a non-executive director of the Company, has subscribed for 135,000
non-redeemable, non-cumulative preference shares of ZAR0.001 each in Nedbank
Limited at a price of ZAR10 per share.  The shares were allotted on 24 December
2002.  Nedbank Limited is a wholly owned subsidiary of Nedcor Limited which in
turn is a 53.2% subsidiary of Old Mutual plc.  The preference shares subscribed
represent Mr Liebenberg's entire current interest in preference shares of
Nedbank Limited.

                                                                 15 January 2003


ENQUIRIES:

Old Mutual plc                                               [phone]
M C Murray, Group Company Secretary



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