Directors' Share Interests

Old Mutual PLC
8 September 2000


Directors' interests in shares of Old Mutual plc (the 'Company')

The following options over shares in the Company were granted today under the
Company's executive share option scheme to the following director of the
Company:

Director                  Number of shares           Exercise Price
J V F Roberts                 288,800                   172.75pence

The above options are for a period of six years, but may not generally, under
the rules of the scheme, be exercised until the third anniversary of grant and
then only subject to the fulfilment of performance targets set by the
Remuneration Committee of the Company.

In addition, an award of 150,600 restricted shares has been made to Mr Roberts
in accordance with his terms of engagement. One third of these will be
released to Mr Roberts for no consideration, on each of the third, fourth and
fifth anniversaries of the date of commencement of his employment with the
Group (21 August 2000), provided he is still in employment with the Group on
these dates.

M.C. Murray
Secretary