LONDON, July 4, 2002 (PRIMEZONE) -- Old Mutual (LSE:OML) (Pink Sheets:ODMTF) draws attention to the announcement made today by Nedcor Bank Limited ("Nedcor Bank"), a subsidiary of Nedcor Limited ("Nedcor"), the South African banking group, in which Old Mutual has a 53% holding, detailing the terms of the R4 billion subordinated and unsecured Notes placed as part of the fund raising for the acquisition of BoE Limited by Nedcor.The full text of the Nedcor Bank 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 Bank 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, Matthew Gregorowski Tel: 44 20 7457 2020