OLD MUTUAL PLC - Notice of Early Redemption

Notice of Early Redemption

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

       Ref 685/15
       8 October 2015


                                        NOTICE OF EARLY REDEMPTION

                                               to the holders of the

                                                OLD MUTUAL PLC

       EUR500,000,000 Fixed to Floating Rate Step-Up Option B Undated Subordinated Notes (the “Notes”)

                                              ISIN: XS0234284668
                                            Common Code: 023428466



       NOTICE IS HEREBY GIVEN to the holders of the outstanding Notes of Old Mutual plc (the “Issuer”)
       that, pursuant to the Final Terms of the Notes and Condition 7(d) (Redemption at the option of the
       Issuer (Issuer Call)), the Issuer hereby will redeem all outstanding Notes on 4 November 2015 (the
       “First Call Date”) at their nominal amount together with accrued and unpaid interest to (but excluding)
       the First Call Date.

       Notice of the proposed redemption has been given to the Prudential Regulation Authority and no
       notice of objection has been given by the Prudential Regulation Authority.

       Terms used in this Notice and not defined herein shall have the same meaning given to them in the
       Terms and Conditions of the Notes.

       Payment of the redemption monies will be made through Euroclear Bank S.A./N.V. and Clearstream
       Banking, société anonyme, in accordance with their standard procedures.



       For and on behalf of
       Old Mutual plc
       8 October 2015


       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



       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 17 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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