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Tue 23 Nov 2004, 13:06 SHARE INTERESTS
OLD MUTUAL PLC - SHARE INTERESTS                                                
OLD MUTUAL PLC                                                                  
ISIN CODE: GB0007389926                                                         
JSE SHARE CODE: OML                                                             
NSX SHARE CODE: OLM                                                             
ISSUER CODE: OLOML                                                              
SHARE INTERESTS                                                                 
Old Mutual plc (the `Company`) announces that on 22 November 2004 it received   
notice dated 18 November 2004 that Public Investment Commissioners of the       
Republic of South Africa (`PIC`) had a notifiable interest, for the purposes of 
Part VI of the UK Companies Act 1985, in 398,417,574 ordinary shares of 10p each
in the Company, representing 10.34% of the Company`s current issued ordinary    
share capital.                                                                  
58,759,814 of the shares concerned are held by PIC itself and the remainder are 
held through the following asset managers:                                      
Futuregrowth                          46,714,893                                
Old Mutual Asset Managers (SA)        77,920,702                                
RMB Asset Management                  66,252,244                                
Sanlam Investment Management          73,196,647                                
Stanlib Asset Management              75,573,274                                
The previous notification of PIC`s shareholding in September 2004 was           
382,584,914 ordinary shares of 10p each in the Company, representing            
approximately 9.97% of the Company`s then current issued ordinary share capital.
PIC is a non-banking financial intermediary responsible for the investment of   
public sector pension and provident funds and various social security and trust 
funds in South Africa.                                                          
23 November 2004                                                                
Enquiries:                                                                      
Old Mutual plc UK                                                               
Miranda Bellord     +44 (0) 20 7002 7133                                        
Old Mutual plc SA                                                               
Nad Pillay          +27 (0) 82 553 7980                                         
Sponsor                                                                         
Merrill Lynch South Africa (Pty) Limited
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