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OML - Old Mutual Plc - Old Mutual offer for Oceanic Life OLD MUTUAL plc Issuer code: OLOML JSE Share code: OML NSX share code: OLM ISIN: GB0007389926 Ref 11/12 22 February 2012 Old Mutual offer for Oceanic Life Old Mutual plc today announces that a preliminary non-binding offer has been accepted by Ecobank Transnational Incorporated (ETI) for the acquisition of Oceanic Life, which was acquired by ETI in October 2011 as part of the Oceanic Bank Group. Old Mutual and ETI are currently negotiating and finalising the relevant legal agreements; these agreements will incorporate the required conditions precedent for the transaction, including the relevant regulatory approvals from both a South African and Nigerian perspective. Oceanic Life is a Nigerian life assurance company with a market share of 1.8% and a Net Asset Value of US$16 million. The acquisition would form part of Old Mutual`s stated strategy of expanding its presence in sub-Saharan Africa. Enquiries External Communications / Investor Relations Patrick Bowes +44 (0)20 7002 7440 Media William Baldwin-Charles +44 (0)20 7002 7133 Investor Relations Kelly de Kock +27 (0) 21 509 8709 Sponsor: Merrill Lynch SA (Pty) Limited Notes to Editors Old Mutual Old Mutual is an international long-term savings, protection and investment Group. Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance to more than 15 million customers in Europe, the Americas, Africa and Asia. Old Mutual is listed on the London Stock Exchange and the Johannesburg Stock Exchange, among others. In the year ended 31 December 2010, the Group reported adjusted operating profit before tax of GBP1.5 billion (on an IFRS basis) and had GBP309 billion of funds under management from core operations, and shareholders` equity of GBP9.0 billion. For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com Date: 22/02/2012 10:30:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
