Final Dividend

Old Mutual PLC
24 February 2003


                                   OLD MUTUAL PLC

               Final Dividend for the year ended 31 December 2002


The Directors of Old Mutual plc are recommending a final dividend for the year
ended 31 December 2002 of 3.1p per share (making a total of 4.8p for the year).


The record date for this dividend payment is the close of business on Tuesday,
22 April 2003 for all the exchanges where Old Mutual plc's shares are listed.
The Last Day to Trade cum-dividend on the JSE Securities Exchange South Africa
(JSE) and other African exchanges will be Friday, 11 April 2003. The shares will
trade ex-dividend from the opening of business on Monday, 14 April 2003 on the
JSE and the other African Exchanges and from the opening of business on
Wednesday, 16 April 2003 on the London Stock Exchange.


The local currency equivalents of the proposed dividend for shareholders on the
South African, Malawi and Zimbabwe branch registers and the Namibian section of
the principal register will be determined using the exchange rates prevailing on
Thursday, 3 April 2003 and will be announced by the Company on Friday, 4 April
2003.



Share certificates may not be dematerialised or rematerialised on the South
African branch register between Monday, 14 April 2003 and Tuesday, 22 April
2003, both dates inclusive, and transfers between the registers may also not
take place during that period.



The final dividend is subject to approval at the Annual General Meeting of Old
Mutual plc, which is to be held in London on Wednesday, 16 May 2003. Subject to
being so approved, the final dividend will be paid on Friday, 30 May 2003.


                                                                24 February 2003


Enquiries:


Old Mutual plc, London                                Tel: + 44 20 7569 0100
James Poole, Director of Investor Relations
Old Mutual, South Africa                              Tel: [phone]
Nad Pillay
College Hill London                                   Tel: + 44 20 7457 2020
Tony Friend




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