OLD MUTUAL PLC - Old Mutual Plc Announces Proposed Initial Public Offering of its US Asset Management Business

Old Mutual Plc Announces Proposed Initial Public Offering of its US Asset Management Business

   Old Mutual plc
   ISIN CODE: GB00B77J0862
   JSE SHARE CODE: OML
   NSX SHARE CODE: OLM
   ISSURE CODE: OLOML

   Old Mutual plc
   Ref 7/14
   28 February 2014

   OLD MUTUAL PLC ANNOUNCES PROPOSED INITIAL PUBLIC OFFERING OF ITS US ASSET
   MANAGEMENT BUSINESS
   
   Old Mutual plc today announces that it intends to proceed with an initial public offering of a minority
   interest in its US Asset Management (USAM) business in 2014, subject to market conditions.
   
   The purpose of the offering is to enhance USAM’s financial and operating flexibility to deploy capital to
   continue to grow and develop further its multi-boutique asset management business. We expect that
   this offering will broaden USAM’s access to capital to pursue future growth initiatives across its
   business, including collaborative investments in affiliate growth and further penetration of non-US
   markets through its global distribution platform, as well as strategic partnerships with high quality
   boutique asset management firms with complementary investment products.
   
   Additional information will be included in the registration statement for the offering once publicly filed
   with the U.S. Securities and Exchange Commission.
   
   This announcement is being made pursuant to and in accordance with Rule 135 under the U.S.
   Securities Act of 1933. This press release does not constitute an offer to sell or the solicitation of an
   offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which
   such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities
   laws of that jurisdiction.


   Ends


   Enquiries
   External communications
   Patrick Bowes                     UK       +44 20 7002 7440
   Investor relations
   Dominic Lagan                     UK       +44 20 7002 7190
   Kelly de Kock                     SA       +27 21 509 8709

   Media
   William Baldwin-Charles                    +44 20 7002 7133
                                              +44 7834 524833
   Lead Sponsor:
   Merrill Lynch South Africa (Pty) Limited

   Joint Sponsor:
   Nedbank Limited

Notes to Editors
Old Mutual provides life assurance, asset management, banking and general insurance 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 2013, the Group reported adjusted operating profit before tax of £1.6
billion (on an IFRS basis) and had £294 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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