Old Mutual plc: Proposed Acquisition of the Remaining Minority Shareholding in Mutual & Federal

Old Mutual plc ("Old Mutual") welcomes today's announcement by the board of directors of Mutual & Federal Insurance Company Limited (“Mutual & Federal”) confirming their intention to vote in favour of the Offer in respect of their own shareholdings in Mutual & Federal and their recommendation that Mutual & Federal shareholders do likewise.

Old Mutual continues to progress the proposed acquisition and is working with Mutual & Federal management on all aspects of the transaction.

A separate announcement regarding the Offer has been released today on the JSE Limited by Mutual & Federal and can be found on Mutual & Federal’s website at http://www.mf.co.za/