LONDON, June 24, 2002 (PRIMEZONE) -- Old Mutual draws attention to the joint announcements by its subsidiary Nedcor Limited ("Nedcor"), the South African banking group, in which it has a 53% holding and BoE Limited ("BoE"), made today, detailing the approval of the schemes of arrangement proposed by Nedcor between BoE and its shareholders and between BoE and the holders of its convertible debentures.The full texts of the Nedcor/BoE announcements are available on SENS, the JSE Securities Exchange News Service and on Old Mutual's website, www.oldmutual.com.