Old Mutual Corporate Citizenship 2003

OLD MUTUAL'S FINANCIAL SECTOR CHARTER PERFORMANCE

Charter Core Component	Charter indicator	Page	Financial Sector Charter Targets and Old Mutual South Africa's Performance
			Charter 2008 Target	OMSA Performance (31/12/03)
Human Resource Development
Senior management	Black people as a % of senior management Black women as a % of senior management	EE EE	20% to 25% 4%	14% 1%
Middle management	Black people as a % of middle management Black women as a % of middle management	EE EE	30% 10%	25% 7%
Junior management	Black people as a % of junior management Black women as a % of junior management	EE EE	40% to 50% 15%	33% 13%
Skills development
Spend	% of payroll per annum spent on training of black employees	Training and education	1.5%	3%
Learnerships	Expressed as % of total staff, the number of matriculants that are employed in the Learnership programme	Training and education	Maximum 4.5% of total staff	New initiative to be rolled out from 2004. Projected 2004 intake of 75 students
Procurement and Enterprise development
Total BEE procurement	% of total procurement spend	Procurement and Supplier	50%	22.5% (unweighted)
Enterprise development		BEE	Charter process still finalising details	The Old Mutual Academy for Financial Planners and the Group Schemes Black Broker Programme are intended to boost the numbers of qualified black financial planners
Access to financial services
Providing products and services to low-income households	Indicators for life industry still being determined	Enterprise development	Targets still to be set by Charter Process	Old Mutual active via Group Schemes
Consumer education	% of post-tax operating profits	Enterprise development	0.2% p.a.	0.2%
Empowerment financing
Targeted investments	Spend on agriculture, low-cost housing, infrastructure, black small business development	Infrastructure investment	Charter process still finalising details	Old Mutual manages infrastructure investments worth R3.2 bn and OMLACSA has investments of R1.7 bn in infrastructure
BEE transaction financing	Spend on BEE transactions	BEE	Charter process still finalising details	R2.2 bn in Old Mutual Life Assurance Company assets are invested in BEE companies
Ownership and control
Direct ownership	% shareholding of black shareholders in Old Mutual	BEE	10% direct (plus 15% direct or indirect) by 2010	3% - 4%
Control	Black people as a % of OMLACSA Board Black women as a % of OMLACSA Board	Board Issues Board Issues	33% 11%	35% 0%
	Black people as a % of executive management Black women as a % of executive management	EE EE	25% 4%	20% 0%
Corporate social investment
Corporate social investment	% of post-tax operating profit per annum on CSI initiatives, principally in black communities	Social Investment - Highlights	0.5%	0.5%

‘03

BEE & scorecard

real engagement

real values

real commitment

OLD MUTUAL'S FINANCIAL SECTOR CHARTER PERFORMANCE