The structure and dynamics of poly(ethylene oxide) adsorbed on dispersed clay platelets are investigated by small-angle neutron scattering and neutron spin-echo spectroscopy. The intermediate scattering function has a mobile contribution described by the Zimm theory and an immobile contribution that is constant within the time window. The immobile fraction as a function of the scattering vector Q is described by a Lorentz function, from which a localization length is determined. The relaxation rates grow with polymer concentration in agreement with dielectric measurements but contrary to pure polymer gels.