US Assets Under Management

Old Mutual PLC
27 April 2005


          Old Mutual Asset Management Reports Assets Under Management 
                            for First Quarter 2005
                                        
            Net Inflows Reach Record Quarterly High of $9.4 Billion

BOSTON--April 26, 2005--Old Mutual Asset Management, the U.S. asset management
group of Old Mutual plc (LSE: OML), today announced assets under management for
the group at the end of the first quarter of 2005. Assets managed by the group's
member firms increased 5.4% in the quarter, from $184.6 billion on December 31,
2004, to $194.5 billion on March 31, 2005. Net inflows of client assets in the
quarter reached a record high of $9.4 billion, including $2.0 billion in cash
collateral assets, while sales of businesses in Japan accounted for a reduction
of $0.2 billion. Investment performance in the funds under management at member
firms was responsible for $0.7 billion of the total increase for the quarter.

'This quarter's group-level results reflect superior execution by our member
firms,' said Scott Powers, chief executive of Old Mutual Asset Management. 'Our
firms continue to focus on their investment disciplines and providing clients
with the specialized expertise and specific market exposure they require.'

                       About Old Mutual Asset Management
The member firms of Old Mutual Asset Management provide high-quality, actively
managed investment products in all major asset classes and investment styles,
with each firm focusing on its own specialized area of expertise. More
information on member firms, and their investment teams and strategies, is
available from the group's Web site at www.oldmutualus.com. The group's parent
is Old Mutual plc, an international financial services company based in London,
with operations in asset management, life assurance, banking and general
insurance. More information on Old Mutual is available at www.oldmutual.com.

Contact:
Media: Tucker Hewes, [phone], [e-mail]
Investors: James Poole, 44 (0)20 7002 7000, [e-mail]

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