Completion of sale of shares by the Old Mutual South Africa Unclaimed Shares Trust

Completion of sale of shares by the Old Mutual South Africa Unclaimed Shares
Trust

Further to the statement by Old Mutual plc (the Company) on 30 January 2007 that
the Trustees of its Unclaimed Shares Trusts would be disposing of their
remaining shareholdings, the Company announces that the Old Mutual South Africa
Unclaimed Shares Trust has now completed its programme of sales of a total of
approximately 53.9 million shares, achieving an average price before expenses
and tax of R24.04 per share over the six-week duration of the programme.

Proposals for the use of these proceeds of sale (together with the residual
assets in the other four Unclaimed Shares Trusts) are being submitted for
shareholder approval at the Company's Annual General Meeting, which will take
place in London on 24 May 2007.

Notes to Editors
Company's intended use of the proceeds of closure of the Unclaimed Shares Trusts
Subject to approval by the Company's shareholders, the Company intends to use
the proceeds of closure of the Unclaimed Shares Trusts, in proportion to the
jurisdiction from which they arose, as follows:
•	approximately £31 million (R430 million) will be set aside effectively to
extend the claims period of unconfirmed eligible policyholders until 31 August
2009.  Under these arrangements, any future claims that would have been valid if
submitted prior to 1 September 2006 will be settled by means of a cash payment
based on the closing share price on 31 August 2006 in the Trust jurisdiction
concerned (other than Zimbabwe, where an adjustment will be made at the
discretion of Old Mutual Zimbabwe for the effects of local inflation); 
•	a total of approximately £48 million (R670 million), less any potential taxes
applicable to the disposal of the shares, will be used either directly or via
donation to the Old Mutual Foundations  to fund good causes in the jurisdiction
of the Trust concerned; 
•	a total of approximately £21 million (R300 million) will be used to enhance
the benefits of specific small policyholders of the Group's life businesses in
South Africa and Namibia.
Old Mutual

Old Mutual plc is an international savings and wealth management company based
in the UK. Originating in South Africa in 1845, the group has a balanced
portfolio of businesses offering asset management, life assurance, banking and
general insurance services in over 40 countries, primarily South Africa, Europe
and the United States. Old Mutual is listed on the London, Johannesburg and
Stockholm stock exchanges, among others.

By conducting its business worldwide under its core values of integrity, respect
and accountability, Old Mutual aspires to push beyond boundaries to drive value
for all its stakeholders. 

In the year ended 31 December 2006, the group reported an increase in adjusted
operating profit of 16% to £1.4 billion (IFRS basis) and had £239 billion of
funds under management. The Company has approximately 53,000 employees.
For further information on Old Mutual plc, please visit the corporate website at
www.oldmutual.com 

Enquiries

Investor Relations		
Malcolm Bell	UK	+44 (0)20 7002 7166
Deward Serfontein	SA	+27 (0)21 509 8709
Media		
James Crampton	UK	+44 (0)20 7002 7133
Nad Pillay	SA	+ 27 (0)21 504 8026