EXHIBIT (a)(1)(K)
FOR IMMEDIATE RELEASE
OLD MUTUAL EXTENDS TENDER OFFER FOR UNITED ASSET MANAGEMENT CORPORATION
NEW EXPIRATION DATE IS SEPTEMBER 21, 2000
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BOSTON (September 19, 2000) - Old Mutual plc announced today that it has
extended the expiration date for its cash tender offer for all outstanding
shares of common stock of United Asset Management Corporation (NYSE: UAM). The
new expiration date is Thursday, September 21, 2000 at 5:00 p.m. EDT.
Old Mutual has received all regulatory approvals that are conditions to the
tender offer other than those of the Office of the Comptroller of the Currency
and the Maryland Division of Financial Regulation, which Old Mutual believes
will be received shortly.
As previously announced, Old Mutual has determined, based upon information
received from UAM, that there will be no downward price adjustment in the tender
offer if the tender offer is completed during the month of September. The
potential downward adjustment will be recomputed if the tender offer is
completed subsequent to September.
As of the previous expiration date of 5:00 p.m. EDT on September 18, 2000,
approximately 53,152,852 shares of UAM common stock had been tendered,
representing approximately 71.6% of UAM common stock on a fully-diluted basis.
Enquiries:
Old Mutual plc, London Tel: +44 20 7569 0100
James Poole, Director Investor Relations
College Hill, London Tel: +44 20 7457 2020
Nicholas Williams
Old Mutual, Cape Town Tel: +27 21 509 2732
Bruce Allen, Manager, Group Media Communications
College Hill, Johannesburg Tel: +27 11 447 3030
Kim Milnes
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