Further Nedcor Cautionary Announcement

Old Mutual PLC
16 November 1999

                           OLD MUTUAL PLC
             FURTHER CAUTIONARY ANNOUNCEMENT RELATING TO
   NEDCOR'S ADDITIONAL INVESTMENT IN DIMENSION DATA'S INTERNATIONAL
                             BUSINESSES

Nedcor Limited ('Nedcor'), the South African banking group, in  which
Old  Mutual plc ('Old Mutual') has a 53.3 percent holding  has  today
issued the following announcement:-

Nedcor advises that, further to its cautionary announcement dated  14
October  1999 and pursuant to the announcement published by Dimension
Data Holdings Limited today ('the Dimension Data announcement').  ING
Barings  is authorised to announce that Nedcor has separately  agreed
with  Dimension Data to continue their relationship with  respect  to
Dimension Data's international businesses.

Dimension  Data  International Limited ('DDIL'), which  excludes  The
Merchants  Group, is currently valued at approximately R10.1  billion
of  which  Nedcor holds 25.1 percent, this value being R2.5  billion.
Of  this  R2.5 billion, the capital presently invested by  Nedcor  in
DDIL  amounts to R930 million and the unrealised capital gain of  the
investment amounts to R1.6 billion.  This capital gain has, to  date,
not  been  reflected  in either Nedcor's income  or  in  capital  and
reserves.

Nedcor  will,  subject  to approvals from  both  its  Board  and  the
necessary regulatory authorities, and subject to fulfillment  of  the
conditions  precedent  outlined in the Dimension  Data  announcement,
acquire a 20.1 percent interest in the European networking businesses
of  Comparex  Holdings Limited in exchange for cash of R1.13  billion
and  a  reduction  of its existing holding in DDIL to  20.1  percent.
Following the successful conclusion of this transaction, Nedcor  will
hold  20.1  percent  of  the total offshore networking  interests  of
Dimension  Data, valued at approximately R18.2 billion.   The  amount
invested  by  Nedcor  in these offshore assets will  amount  to  R2.1
billion  with  an  approximate value of R3.7  billion.   Nedcor  also
intends to acquire a 20.1 percent stake in The Merchants Group in due
course.

In  line  with  the globalisation strategy outlined in the  Dimension
Data  announcement, it is intended that these investments  will  form
part of a listing on a appropriate international exchange.

Dimension  Data  has  advised that it expects to  publish  a  further
announcement in December 1999 following conclusion of the  definitive
agreements outlined in the Dimension Data announcement and  that  the
effective  date  of  the proposed transaction is  expected  to  be  1
February 2000.  Nedcor will also at that time publish an announcement
setting  out  more  comprehensive details of the  aforesaid  proposed
investment.

Until  publication of such further related announcement  shareholders
are  advised  to  continue to exercise caution in  dealing  in  their
shares.

                                                     16 November 1999
                                                                     
Issued by:
Investor Relations
Old Mutual plc
London