LONDON, Aug. 12, 2002 (PRIMEZONE) -- This announcement is made in terms of Rule 7 of the South African Securities Regulation Panel's Code on Takeovers and Mergers. Old Mutual Life Assurance Company (South Africa) Limited, a wholly owned subsidiary of Old Mutual plc ("Old Mutual"), acquired 1,000,000 ordinary shares in Nedcor Limited ("Nedcor") at a price of R 110.00 per share.
After the abovementioned purchase, the Old Mutual group owns and/orcontrols 138.1 million Nedcor ordinary shares, representing 52.99% ofthe total number of Nedcor ordinary shares in issue.