Nedcor/BoE Management

Old Mutual PLC
8 July 2002



                                 OLD MUTUAL PLC

            New Top Management Structure for Merged Nedcor/BoE Group


Old Mutual draws attention to the announcement made today by Nedcor Limited 
('Nedcor'), the South African banking group in which Old Mutual has a 53% 
holding, outlining the new top management structure for the merged businesses of
Nedcor and BoE.



The full text of the Nedcor announcement is available on SENS, the JSE
Securities Exchange News Service, and on Old Mutual's website, www.oldmutual.com





8 July 2002





ENQUIRIES:


Old Mutual, London                                   Tel: [phone]
James Poole


College Hill, London                                 Tel: [phone]
Nicholas Williams









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