Results for the six months ended 30 June 2007

SWEDEN


Results for the six months ended 30 June 2007

Steady profits - underlying growth strong

•	Net client cash flows (NCCF) £11.8 billion, 10% of opening funds under
management (FUM) on an annualised basis

•  Life APE up 10% to £859 million (up 17% at constant exchange rates)
   - SA retail up 21% as sales force productivity and bancassurance grows,
corporate flat
   - US up 34%: Bermuda variable annuities strong
   - UK up 23%: Open architecture continues to thrive
   - Nordic slower following tax changes and price pressure
   - ELAM: matches last year's highs

• Investment performance strong in US and Europe, recovering in SA

• Funds under management up 11% to £263 billion

• Skandia continuing to exceed acquisition assumptions in total and on track to
deliver promised synergies. 

• US Life actuarial review complete and provisions made; business now well
positioned for the future

•  Adjusted earnings per share steady at 8.2p on an IFRS basis (30 June 2006:
8.5p*)

•  Adjusted embedded value per share (EEV basis) 161.6p at 30 June 2007 (31
December 2006: 161.1p***)

•  Interim dividend increased by 10% to 2.3p (32.59 cents**) per share, in line
with underlying growth rates


Jim Sutcliffe, Chief Executive, commented:"Underlying business performance during the first half, driven principally by
high quality investment management, resulted in strong net client cash flows and
growth in funds under management - the key driver of profitability. The Skandia
synergy and development targets are on track. Group earnings, however, have been
muted by the strengthening of the Sterling against the Rand and the US Dollar,
and the provisions following the completion of the actuarial review in the USA.
Our strong capital position and powerful set of international businesses will
allow us to grow even if economic conditions continue to be turbulent."



Enquiries

Investor Relations		
Malcolm Bell	UK	+44 (0)20 7002 7166
Deward Serfontein	SA	+27 (0)21 509 8709
Media		
James Crampton	UK	+44 (0)20 7002 7133
Nad Pillay	SA	+27 (0)21 504 8026
College Hill (UK)		
Tony Friend	UK	+44 (0)20 7457 2020
Gareth David	UK	

Notes
Wherever the terms asterisked in the Financial Highlights are used, whether in
the Financial Highlights, the Chief Executive's Statement, the Group Finance
Director's Review or the Business Review, the following definitions apply:

 *  For long-term and general insurance business, adjusted operating profit is
based on a long-term investment return, includes investment returns on life
funds' investments in Group equity and debt instruments, and is stated net of
income tax attributable to policyholder returns. For all businesses, adjusted
operating profit excludes goodwill impairment, the impact of acquisition
accounting, the impact of closure of unclaimed shares trusts, profit / (loss) on
disposal of subsidiaries, associated undertakings and strategic investments and
dividends declared to holders of perpetual preferred callable securities.

    Adjusted operating earnings per ordinary share is calculated on the same
basis as adjusted operating profit. It is stated after tax attributable to
adjusted operating profit and minority interests. It excludes income
attributable to Black Economic Empowerment (BEE) trusts of listed subsidiaries.
The calculation of the adjusted weighted average number of shares includes own
shares held in policyholders' funds and BEE trusts.

** Indicative only, being the Rand equivalent of 2.3p converted at the exchange
rate prevailing on 30 June 2007. The actual amount to be paid by way of interim
dividend to holders of shares on the South African branch register will be
calculated by reference to the exchange rate prevailing at the close of business
on 18 October 2007, as determined by the Company, and will be announced on 19
October 2007.

*** Restated due to addition of own shares in Employee Share Ownership Plans
(ESOP)


Forward-looking statements

This announcement contains forward-looking statements with respect to certain of
Old Mutual plc's plans and its current goals and expectations relating to its
future financial condition, performance and results. By their nature, all
forward-looking statements involve risk and uncertainty because they relate to
future events and circumstances that are beyond Old Mutual plc's control,
including, among other things, UK domestic and global economic and business
conditions, market-related risks such as fluctuations in interest rates and
exchange rates, policies and actions of regulatory authorities, the impact of
competition, inflation, deflation, the timing and impact of other uncertainties
or of future acquisitions or combinations within relevant industries, as well as
the impact of tax and other legislation and other regulations in territories
where Old Mutual plc or its affiliates operate.

As a result, Old Mutual plc's actual future financial condition, performance and
results may differ materially from the plans, goals and expectations set forth
in Old Mutual plc's forward-looking statements. Old Mutual plc undertakes no
obligation to update any forward-looking statements contained in this
announcement or any other forward-looking statements that it may make.



Notes to Editors:
A webcast of the analyst presentation and Q&A will be broadcast live at 9.30
a.m. (UK time) and 10.30 a.m. (Swedish and South African time) today on the
Company's website, www.oldmutual.com. Analysts and investors who wish to
participate in the call should dial the following toll-free numbers:

UK			0500 101 630
Sweden			0200 887 651
South Africa		0800 991 468
North America		+1 877 491 0064

Playback (available until midnight on 24 August 2007):

UK			0207 031 4064UK toll-free		0800 358 1860
Sweden			+46 (0) 850 520 333
North America toll-free	+1 888 365 0240
North America toll		+1 954 334 0342

Access code: 761356

Copies of these results together with high-resolution images (at
http://oldmutual.com) and biographical details of the Executive Directors of Old
Mutual plc, are available in electronic format to download from the Company's
website.

A Financial Disclosure Supplement relating to the Company's Interim results can
be found on the website. This contains a summary of key financial data for 2007
and 2006.

An interview with Jim Sutcliffe, Chief Executive, in video, audio and text is
available on the Company's website, www.oldmutual.com, and on www.cantos.com.

Attachments

08102004.pdf