OLD MUTUAL PLC - Agrees the Sale of Skandia Switzerland

Agrees the Sale of Skandia Switzerland

       OLD MUTUAL PLC
       ISIN CODE: GB00B77J0862
       JSE SHARE CODE: OML
       NSX SHARE CODE: OLM
       ISSUER CODE: OLOMOL

       Ref 411/15
       29 May 2015


       OLD MUTUAL PLC AGREES THE SALE OF SKANDIA SWITZERLAND

       Old Mutual plc today announces that terms have been agreed to sell Skandia Leben AG in
       Switzerland, part of Old Mutual Wealth, to Life Invest Holding AG, a company owned by the Mutschler
       Group and Hannover Re. The consideration for the transaction is not being disclosed. As at 31
       December 2014 Skandia Leben AG in Switzerland had funds under management of CHF 1.3 billion. It
       made CHF 25 million of pre-tax adjusted operating profit in 2014.
       The transaction is subject to regulatory approvals and other customary conditions and is expected to
       take approximately six months to complete.
       The transaction continues Old Mutual Wealth’s commitment to simplify its operations.


       Enquiries
       External communications
       Patrick Bowes                       UK       +44 20 7002 7440
       Investor relations
       Dominic Lagan                       UK       +44 20 7002 7190

       Media
       William Baldwin-Charles                      +44 20 7002 7133
                                                    +44 7834 524833


       Sponsor:
       Merrill Lynch South Africa (Pty) Ltd

       Joint Sponsor:
       Nedbank Capital

       
       Notes to Editors
       Old Mutual provides investment, savings, insurance and banking services to more than 16 million customers in
       Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the
       London and Johannesburg Stock Exchanges, among others, since 1999.
       In the year ended 31 December 2014, the Group reported adjusted operating profit before tax of £1.6 billion (on
       an IFRS basis) and had £319 billion of funds under management from core operations.

       For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com




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