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Mon 12 Aug 2002, 0:00 OLD MUTUAL PLC - PURCHASE OF NEDCOR SHARES
ISIN CODE  : GB0007389926                                                       
SHARE CODE : OML                                                                
ISSUER CODE: OLOML                                                              
NEDCOR REGISTRATION NUMBER 1966/010630/06                                       
Purchase of Nedcor Shares                                                       
This announcement is made in terms of Rule 7 of the South African               
Securities Regulation Panel`s Code on Take-overs and Mergers.                   
Old Mutual Life Assurance Company (South Africa) Limited, a wholly-owned        
subsidiary of Old Mutual plc ("Old Mutual"), acquired 1 000 000 ordinary shares 
in Nedcor Limited ("Nedcor") at a price of R110.00 per share on Wednesday, 7    
August 2002.                                                                    
After the abovementioned purchase, the Old Mutual group owns and/or controls    
138.1 million Nedcor ordinary shares, representing 52.99% of the total number of
Nedcor ordinary shares in issue.                                                
12 August 2002                                                                  
Date: 12/08/2002 10:30:00 AM Produced by the JSE SENS Department                


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