Gerrard Directorate

Old Mutual PLC
10 March 2000


                        Old Mutual plc
                               
         Gerrard Group plc annoucement of Board changes

Following the declaration that the offer for Gerrard Group  plc
by  Old  Mutual  plc  is wholly unconditional,  Old  Mutual  is
pleased to announce the appointment of Mr. James Whelan to  the
Boards  of  GNI and Gerrard and King, subsidiaries  of  Gerrard
Group plc.

Mr.  Giles  Vardey has resigned his positions as  an  Executive
Director  of Gerrard Group plc and as Chief Executive of  Greig
Middleton & Co Ltd. Mr. Richard Bernays and Mr. Eric Anstee  of
Old  Mutual  will join the Board of Gerrard Group  plc  at  the
first opportunity.  Mr. Richard Bernays has assumed the role of
Chief Executive, Greig Middleton, with immediate effect.


ENQUIRIES:

Old Mutual plc                          Tel: + 44 20 7569 0100
James Poole, Director, Investor Relations

College Hill UK                         Tel: + 44 20 7457 2020
Nicholas Williams

College Hill South Africa               Tel: + 27 11 447 3030
Graham Fiford