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Tue 19 Apr 2005, 8:50 Withdrawal Of Cautionary Announcement
Mutual & Federal - Withdrawal Of Cautionary Announcement                        
Mutual & Federal Insurance Company Limited                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number 1970/006619/06)                                            
JSE Share Code: MAF                                                             
NSX Share Code: MTF                                                             
ISIN: ZAE000010823                                                              
(`Mutual & Federal` or `the company`)                                           
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT                                           
Mutual & Federal shareholders are referred to the Old Mutual Group`s black      
economic empowerment transactions` announcement released earlier today. As the  
terms of the Mutual & Federal Transaction have been announced, Mutual & Federal 
shareholders are no longer required to exercise caution when dealing in the     
company`s securities.                                                           
Johannesburg                                                                    
19 April 2005                                                                   
Sponsor                                                                         
Nedbank Capital
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