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Sasol Limited - Further Cautionary

Release Date: 15/03/1999 08:47:07      Code(s): SOL SOLD
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 79/03231/06)
FURTHER CAUTIONARY ANNOUNCEMENT
FURTHER TO THE CAUTIONARY ANNOUNCEMENT BY SASOL LIMITED ("SASOL"), PUBLISHED ON
8 MARCH 1999, SASOL ANNOUNCES THAT A MEMORANDUM OF UNDERSTANDING ("MOU") WITH
PETROLEUM NASIONAL BERHAD ("PETRONAS") OF MALAYSIA WAS SIGNED ON 12 MARCH 1999.
IN TERMS OF THE MOU, SASOL AND PETRONAS WILL EXPLORE VARIOUS OPTIONS OF
CO-OPERATION BETWEEN THEM AND, IN PARTICULAR, WAYS IN WHICH TO FULLY EXPLOIT
THE EXISTING AND POTENTIAL SYNERGIES BETWEEN ENGEN LIMITED, A WHOLLY OWNED
SUBSIDIARY COMPANY OF PETRONAS, AND CERTAIN SASOL SUBSIDIARY COMPANIES.
THE MOU ALLOWS SASOL AND PETRONAS TO FURTHER DEFINE OPPORTUNITIES FOR FUTURE
CO-OPERATION AND REALISATION OF SYNERGIES AND TO ENTER INTO NEGOTIATIONS TO
FORMALISE DEFINITIVE COMMERCIAL AGREEMENTS AS THEY ARE IDENTIFIED. IT IS NOT
EXPECTED THAT THESE NEGOTIATIONS WOULD BE FINALISED BEFORE THE END OF JUNE 1999
THE MOU MAKES SPECIFIC PROVISION FOR SASOL AND PETRONAS TO FACILITATE THE
PARTICIPATION OF A MEANINGFUL CONSOLIDATED BLACK SHAREHOLDING IN ANY ENLARGED
ENTITY WHICH MAY RESULT FROM THE NEGOTIATIONS.
COMMERCIAL AGREEMENTS ARISING OUT OF THE MOU SHALL BE SUBJECT TO THE APPROVAL
OF SASOL'S AND PETRONAS' RESPECTIVE BOARDS AND/OR SHAREHOLDERS AND THE
REGULATORY AUTHORITIES CONCERNED.
AGREEMENTS ENTERED INTO PURSUANT TO THE MOU MAY HAVE AN EFFECT ON THE PRICE OF
SASOL SHARES AND DEBENTURES (SASOL SECURITIES") AND, ACCORDINGLY, SASOL
SHAREHOLDERS AND DEBENTURE HOLDERS ARE ADVISED TO EXERCISE CAUTION WHEN DEALING
IN THEIR SASOL SECURITIES UNTIL A FURTHER CAUTIONARY ANNOUNCEMENT IS MADE.
JOHANNESBURG
15 MARCH 1999



                                        
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