LONDON, Sept. 30, 2002 (PRIMEZONE) -- Old Mutual (LSE:OML) draws attention to today's announcement by its subsidiary Nedcor Limited ("Nedcor"), the South African banking group in which it has a 53.2% stake, detailing the approval of the scheme of arrangement proposed by Nedcor between Nedcor Investment Bank Holdings Limited ("NIB") and its minority shareholders other than Nedcor. Nedcor currently has an 84% stake in NIB.
The full text of the Nedcor announcement is available on the JSE Securities Exchange News Service (SENS) and also on Old Mutual's Website, www.oldmutual.com. A paper copy of the full Nedcor announcement is available from Investor Relations, Old Mutual Plc, 3rd Floor, 57 Berkeley Square, London W1J 6ER.