Old Mutual Plc - Directors" interests in securities of Mutual & Federal
Insurance Company Limited
Old Mutual Plc
ISIN CODE: GB0007389926
SHARE CODE: OML
ISSUER CODE: OLOML
Directors" interests in securities of Mutual & Federal Insurance Company Limited
Old Mutual plc (the "Company") has been informed by notifications received today
of the following changes in interests of directors of the Company in shares in
its 88%-owned South African general insurance subsidiary, Mutual & Federal
Insurance Company Limited ("M&F"). In each case these have resulted from
acceptances by the director concerned (or his connected persons, for the
purposes of the UK Companies Act 1985 ("Connected Persons")) of the offer (the
"Offer") by Mutual & Federal Investments (Proprietary) Limited (a wholly-owned
subsidiary of the Company) of R17.02 per M&F share (ex div) for the shares in
M&F not already owned by the Old Mutual Group:
* M J Levett, Chairman of the Company, has accepted the Offer in relation to
his entire beneficial holding of 763,600 shares in M&F, and his wife has
accepted the Offer in relation to her entire beneficial shareholding of 100,000
shares in M&F (each with effect from today"s date). As a result Mr Levett"s
interest (including that of Connected Persons) in M&F is now 500 shares, which
are held in his name non-beneficially, as qualification shares; and
* Mr C F Liebenberg, a non-executive Director of the Company and Chairman of
Nedcor Limited, has given instructions to a trust in which his entire beneficial
holding of 40,000 shares in M&F are held to accept the Offer in relation to
those shares. As a result Mr Liebenberg"s interest in M&F (including that of
Connected Persons) will, upon implementation of those instructions, be 500
shares held in his name non-beneficially, as qualification shares.
22 April 2004
Enquiries
James Poole (+44 20 7002 0100)
Director, Corporate Affairs
Old Mutual plc
Sponsor in South Africa:
Merrill Lynch South Africa (Pty) Limited
Date: 22/04/2004 04:00:03 PM Produced by the JSE SENS Department
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