Old Mutual Plc - Confirmation of Discussions
Old Mutual Plc
ISIN CODE: GB0007389926
SHARE CODE: OML
ISSUER CODE: OLOML
Confirmation of Discussions
Old Mutual plc notes the speculation regarding the potential sale of its
subsidiary, GNI Holdings Limited.
Old Mutual confirms that it is currently in discussions regarding the sale of
GNI Holdings Limited.
A further announcement will be made in due course.
14 October 2002
Enquiries:
Old Mutual plc Tel: +44 20 7569 0100
James Poole, Director Investor
Relations
Old Mutual Financial Services UK Tel: +44 20 7002 4000
Edmond Warner, Chief Executive
College Hill, London Tel: +44 20 7457 2020
Tony Friend
Gareth David
College Hill, South Africa Tel: +27 11 447 3030
Nicholas Williams
Notes to editors:
Old Mutual plc is an international financial services company based in London,
with substantial operations in life assurance, asset management, banking and
general insurance. Old Mutual is listed on the London Stock Exchange with a
market capitalisation of approx. 3,000 million as at 11 October 2002. It is
also listed on the Johannesburg, Namibian, Malawi and Zimbabwe stock exchanges.
The company operates the largest life assurance business in Southern Africa,
through which it provides life, disability and health insurance, retirement
savings and investment products to individuals and groups. The company also has
worldwide interests in life assurance and asset management. The enlarged group
had 133 billion of assets under management as at 30 June 2002. Old Mutual owns
53.2% of Nedcor, South Africa`s highest rated bank, and 51% of the South African
general insurance company, Mutual & Federal.
Date: 14/10/2002 09:03:00 AM Produced by the JSE SENS Department
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