NOTIFICATION OF A TRANSACTION OF A DIRECTOR IN ACCORDANCE WITH RULE 3.1.4R OF THE DISCLOSURE AND TRANSPARENCY RULES

NOTIFICATION OF A TRANSACTION OF A DIRECTOR IN ACCORDANCE WITH RULE 3.1.4R OF
THE DISCLOSURE AND TRANSPARENCY RULES

Old Mutual plc (the Company) announces that on 13 September 2007 Mr J H
Sutcliffe, Chief Executive of the Company, exercised a share option
under the Old Mutual Share Option and Deferred Delivery Plan (SOP) as
follows:

Date of grant Date of     Options   Exercise No. of shares Market price
              exercise    exercised price    retained      at close on
                                                           date of
                                                           exercise
4 Mar 2002    13 Sep 2007 128,000   £0.9525  128,000       £1.495
The total number of shares now held under option by Mr Sutcliffe under
the SOP is 4,157,959, of which 2,466,471 have vested and the rest remain
subject to performance conditions.
The total number of shares in the Company in which Mr Sutcliffe
(together with his connected persons) is now beneficially interested
(excluding Restricted Share Awards which have not yet vested and all
unexercised share option shares) is 1,645,819.
Old Mutual
For further information on Old Mutual plc, please visit the corporate
website at www.oldmutual.com
Enquiries

Investor Relations     
Aleida van Herel   UK +44 (0)20 7002 7287
Deward Serfontein  SA +27 (0)21 509 8709
Media                  
James Crampton     UK +44 (0)20 7002 7133
Nad Pillay         SA +27 (0)82 553 7980