Old Mutual Securities Limited

With effect from Monday 18 December 2000, Old Mutual securities Limited ("Old Mutual Securities" or "the firm") will change its head office address from 80 Cheapside, London, EC2V 6NA to the new head and registered office address shown below.

Old Mutual securities will continue to act as a market maker and as a broker dealer agent in domestic securities. The firm will also continue to have access to the electronic order book.

The firm''s market making will continue to be cleared through Pershing Limited under a Model A agreement and its agency broking business will continue to be cleared through Pershing Securities Limited under a Model B agreement.

Details are as follows, with changes highlighted in bold: