LONDON, Sept. 6, 2002 (PRIMEZONE) -- Old Mutual draws attention to today's announcement by its subsidiary Nedcor Limited ("Nedcor"), the South African banking group, in which it has a 53% stake, detailing the salient dates and times of the scheme of arrangement proposed by Nedcor between NIB and its shareholders other than Nedcor to acquire the issued shares of NIB. Nedcor currently has an 84% stake in NIB.The scheme meeting is scheduled to take place on Monday, 30 September 2002. Subject to the successful implementation of the scheme NIB shareholders registered on Friday, 18 October 2002 will receive 3.03030 Nedcor shares for every 100 NIB shares.
The full text of the Nedcor announcement is available on SENS, the JSE Securities Exchange News Service and on Old Mutual's website, www.oldmutual.com. A paper copy of the full Nedcor announcement is available from Investor Relations, Old Mutual Plc, 3rd Floor, 57 Berkeley Square, London W1J 6ER.
ENQUIRIES:
Old Mutual, London James Poole Tel: 44 20 7569 0100 College Hill, London Tony Friend Tel: 44 20 7457 2020