LONDON, Aug. 21, 2003 (PRIMEZONE) -- Mr. Roberts, Group Finance Director of Old Mutual plc ("the Company") (Other OTC:ODMTF), has today had released to him under the terms of the Company's Restricted Share Plan 50,200 shares in the Company. An award of 150,600 restricted shares was made to Mr. Roberts on 8 September 2000 on terms that one third of them would be released to him on each of the third, fourth and fifth anniversaries of his appointment to the Board of the Company. The third anniversary of that appointment fell today. Mr. Roberts has agreed to discharge the tax and employee's national insurance arising on the release of these shares to him out of his own resources.
Following the above release of restricted shares, Roberts (together with his connected persons, for the purposes of section 346 of the UK Companies Act 1985) now owns 179,248 shares in the Company. He also has a contingent interest in a further 299,596 shares in the Company under the terms of the Company's Restricted Share Plan: these are, firstly, the balance of 100,400 shares under the Restricted Share Plan award made on 8 September 2000 mentioned above, and, secondly a total of 199,196 shares awarded under bonus matching arrangements applicable to the years ended 31 December 2000, 2001 and 2002, release of which is subject to the fulfilment of performance conditions.
Enquiries
James Poole ((+44) (0)20 7569 0100) Director, Investor Relations Old Mutual plc 21 August 2003