Nedcor Investment Bank Limited Results for the Year Ended December 31, 2001


LONDON, Feb. 7, 2002 (PRIMEZONE) -- Old Mutual plc (LSE:OML) is an integrated financial services group, based in London, with a substantial life assurance business in southern Africa, annuity business in the United States, an international range of businesses in asset management (including unit trusts, portfolio management and stockbroking services), together with businesses in banking and general insurance.

Nedcor Investment Bank Holdings Ltd. ("NIB"), the South African investment bank, in which Nedcor Limited ("Nedcor"), the South African banking group has majority control, has today issued financial results for the year ended December 31, 2001. Old Mutual plc ("Old Mutual") has a 51% holding in Nedcor. The full text of the NIB announcement is available on SENS, the JSE Securities Exchange News Service, and has been drawn up in accordance with South African GAAP.