LONDON, Feb. 15, 2001 (PRIMEZONE) -- Nedcor Investment Bank Holdings Ltd ("NIB"), the South African investment bank in which Nedcor Limited -- the South African banking group -- has majority control, has today issued financial results for the year ended Dec. 31, 2000. Old Mutual plc ("Old Mutual") has a 53.3% holding in Nedcor Ltd.
The full text of the NIB announcement can be found at http://reports.huginonline.com/808930/86764.doc which has been drawn up in accordance with South African GAAP. The results will be consolidated in Old Mutual's accounts in accordance with UK GAAP.
Commenting on NIB's results, Mike Levett, Chairman and CEO of Old Mutual said: "NIB has established itself as a leading player in investment banking and asset management in South Africa. It is especially pleasing that the company has achieved a 23% increase in EPS in a testing environment for all financial markets."