| Tue 5 Aug 2008, 8:14 | | OML/ OLM - Old Mutual Plc - Update on disposal of Mutual & Federal Insurance |
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OML
OLOML
OML/ OLM - Old Mutual Plc - Update on disposal of Mutual & Federal Insurance
Company Limited
OLD MUTUAL PLC
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
Ref 130/08
5 August 2008
UPDATE ON DISPOSAL OF MUTUAL & FEDERAL INSURANCE COMPANY LIMITED ("MUTUAL &
FEDERAL")
Old Mutual plc announces that it intends to initiate a competitive sale process
in September 2008 to dispose of its entire shareholding in Mutual & Federal.
Shareholders are referred to Mutual & Federal`s cautionary statement in this
regard included in its results announcement today.
Financial advisor to Old Mutual plc:
NM Rothschild & Sons (Proprietary) Ltd
Sponsor to Old Mutual plc:
Merrill Lynch South Africa (Proprietary) Ltd
For further information on Old Mutual plc, please visit the corporate website
at www.oldmutual.com
Enquiries
Investor Relations
Mary Jackets UK +44 (0) 20 7002 7149
Aleida White UK +44 (0) 20 7002 7287
Deward Serfontein SA +27 (0)82 810 5672
Media
Matthew Gregorowski UK +44 (0)20 7002 7133
Notes to Editors
Old Mutual
Old Mutual plc is an international savings and wealth management company
based in the UK. Originating in South Africa in 1845, the group has a
portfolio of businesses offering asset management, life assurance, banking
and general insurance services in over 40 countries in Europe, the Americas,
Africa and Asia-Pacific. Old Mutual plc is listed on the London Stock Exchange
and the JSE, among others.
In the year ended 31 December 2007, the group reported adjusted operating
profit of GBP1.62 billion (on an IFRS basis) and had GBP279 billion of funds
under management at the year end. The Company has approximately 53,000
employees.
Mutual & Federal
Mutual & Federal provides insurance services to the personal, commercial and
corporate markets in South Africa, Namibia, Botswana and Zimbabwe.
Old Mutual owns 75% of Mutual & Federal Insurance Company Limited on a fully-
diluted basis, after taking account of Mutual & Federal`s BEE ownership
transactions. Mutual & Federal`s shares are listed on the JSE Limited and the
Namibian Stock Exchange.
Date: 05/08/2008 08:14:17 Produced by the JSE SENS Department.
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