OLD MUTUAL PLC - Nedbank Group and Nedbank Limited Change to Board of Directors

Nedbank Group and Nedbank Limited – Change to Board of Directors

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

       Ref 222/16
       24 March 2016


       NEDBANK GROUP AND NEDBANK LIMITED – CHANGE TO BOARD OF DIRECTORS

       Nedbank Group and Nedbank Limited, the majority-owned South African banking subsidiary of Old
       Mutual plc, released an announcement today, 24 March 2016, regarding the change to their board of
       directors.

       The following is the full text of Nedbank Group's announcement:
       “The boards of Nedbank Group and Nedbank (“the Companies”) are pleased to announce the
       appointment of Mr Errol Melville Kruger as an independent non-executive director of the Companies
       with effect from 1 August 2016.

       Mr Kruger, aged 59, has extensive regulatory, banking and financial services experience. From
       September 2003 to July 2011 Mr Kruger was the Registrar of Banks at the South African Reserve
       Bank (SARB), having been with the SARB from July 1978 until July 2011. As the Registrar of Banks,
       he represented South Africa as a full member of the Basel Committee on Banking Supervision from
       2009 to 2011 and he successfully project managed South Africa’s early adoption, and full
       implementation, of both the revised 25 Basel Core Principles for Effective Banking Supervision as well
       as Basel II. Mr Kruger was appointed Managing Director of Supervision and Authorisation at the Qatar
       Financial Centre Regulatory Authority on 1 August 2011 whereafter he was also appointed by the
       Board of the Qatar Central Bank to serve on Qatar’s Financial Stability and Risk Control Committee.
       He will relinquish his role at the Qatar Financial Centre Regulatory Authority on 31 July 2016.

       Mr Vassi Naidoo, Nedbank Group Chairman, extended a warm welcome to Mr Kruger and said: “The
       Nedbank Group Board looks forward to working with Mr Kruger. His vast knowledge of banking, and
       his experience in implementing international world-class regulatory frameworks will be of benefit to
       the Nedbank Group.”

       Enquiries
       External communications
       Patrick Bowes                       UK       +44 20 7002 7440
       Investor relations
       Dominic Lagan                       UK       +44 20 7002 7190
       Sizwe Ndlovu                        SA       +27 11 217 1163

       Media
       William Baldwin-Charles                      +44 20 7002 7133
                                                    +44 7834 524833
       Notes to Editors
       Old Mutual provides investment, savings, insurance and banking services to 18.9 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 2015, the Group reported adjusted operating profit before tax of £1.7 billion (on
       an AOP basis) and had £304 billion of funds under management from core operations (excluding Rogge).
       For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com

       Sponsor:
       Merrill Lynch South Africa (Pty) Ltd

       Joint Sponsor:
       Nedbank Capital


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