Mr Hasan Askari, CEO of Old Mutual Asia Pacific, exercised his option under the Old Mutual UK Sharesave Plan on 1 June 2006 to purchase 15,750 Old Mutual plc shares at an exercise price of £0.60 per share. Mr Askari has retained all of the shares and the total number of shares in the Company in which Mr Askari (together with his connected persons, for the purposes of section 346 of the UK Companies Act 1985) is now beneficially interested is 19,208. 2 June 2006 ENQUIRIES: Old Mutual plc Malcolm Bell - Investor Relations (UK) + 44 (0) 20 7002 7166 Miranda Bellord - Media Relations (UK) + 44 (0) 20 7002 7133 Deward Serfontein - Investor Relations (SA) + 27 21 509 8709 Nad Pillay - Media Relations (SA) + 27 11 523 9612