STANBIC RESULTS OF GENERAL MEETING

STANDARD BANK INVESTMENT CORPORATION LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1969/017128/06)
("STANBIC")
RESULTS OF GENERAL MEETING AND

DISPOSAL OF STANBIC'S INTEREST IN LIBERTY INTERNATIONAL PLC

  STANBIC SHAREHOLDERS ("SHAREHOLDERS") ARE ADVISED THAT, AT THE ADJOURNED
GENERAL MEETING OF SHAREHOLDERS HELD TODAY, THE ORDINARY RESOLUTION PROPOSED TO
APPROVE THE DISPOSAL BY STANBIC OF 26 658 023 ORDINARY SHARES OF 50 PENCE EACH
IN LIBERTY INTERNATIONAL PLC ("LIBERTY INTERNATIONAL") TO THE BRITISH LAND
COMPANY PLC ("BRITISH LAND") (THE "DISPOSAL") WAS DEFEATED.

  THE APPROVAL OF STANBIC SHAREHOLDERS WAS ONE OF THE CONDITIONS PRECEDENT TO
THE DISPOSAL AND ACCORDINGLY THE DISPOSAL WILL NOT PROCEED.

  AS ANNOUNCED ON 24 JULY 2000, LIBERTY INTERNATIONAL HAS ISSUED A FORMAL
IRREVOCABLE OFFER (THE "REPURCHASE OFFER") TO REPURCHASE FROM STANBIC AND
LIBERTY GROUP LIMITED ("LIBERTY") 26 658 023 AND 66 841 977 SHARES RESPECTIVELY
IN LIBERTY INTERNATIONAL (THE "SALE SHARES") FOR 575 PENCE PER SHARE IN CASH.
IN ADDITION, LIBERTY INTERNATIONAL HAS CONFIRMED FORMALLY TO THE BOARD OF
STANBIC THAT, IF THE REPURCHASE OFFER IS ACCEPTED, THE RESULTING AGREEMENT FOR
THE DISPOSAL OF THE SALE SHARES TO LIBERTY INTERNATIONAL (THE "REPURCHASE
AGREEMENT") WILL NOT BE COMPLETED BEFORE THE DATE ON WHICH THE ANNOUNCED
INTERIM DIVIDEND OF 10.25 PENCE PER LIBERTY INTERNATIONAL SHARE BECOMES
RECEIVABLE BY STANBIC AND LIBERTY.

  AS THE DISPOSAL WILL NOT PROCEED, STANBIC AND LIBERTY ARE ABLE TO ACCEPT THE
REPURCHASE OFFER.

  ACCORDINGLY, THE BOARD OF STANBIC TODAY SIGNED THE REPURCHASE AGREEMENT.  THE
ATTENTION OF SHAREHOLDERS IS DRAWN TO THE ANNOUNCEMENT BY LIBERTY RELEASED
TODAY, WHICH ADVISES THAT LIBERTY HAS ALSO SIGNED THE REPURCHASE AGREEMENT.
  THE AMOUNT RECEIVABLE BY STANBIC UNDER THE REPURCHASE AGREEMENT, LESS THE
BREAK FEE PAYABLE TO BRITISH LAND, AMOUNTS TO APPROXIMATELY R 1,6 BILLION,
BASED ON A CURRENT EXCHANGE RATE OF R10.54 TO GBP1.  THE DISPOSAL OF THE SALE
SHARES TO LIBERTY INTERNATIONAL, WHICH IS EXPECTED TO BE COMPLETED ON OR ABOUT
MONDAY, 14 AUGUST 2000, WILL NOT HAVE A MATERIAL EFFECT ON THE EARNINGS PER
SHARE OR NET ASSET VALUE PER SHARE OF STANBIC.
JOHANNESBURG
27 JULY 2000
MERCHANT BANK IN THE UK
STANDARD BANK LONDON LIMITED
REGISTRATION NUMBER 2130447

REGULATED BY THE SECURITIES AND FUTURE AUTHORITY LIMITED
MEMBER OF THE LONDON STOCK EXCHANGE
MERCHANT BANK IN SOUTH AFRICA
STANDARD CORPORATE AND MERCHANT BANK

(A DIVISION OF THE STANDARD BANK OF SOUTH AFRICA LIMITED)
(REGISTRATION NUMBER 1962/000738/06)
ADVISERS
J P MORGAN
UK SOLICITORS
HERBERT SMITH
ATTORNEYS IN SOUTH AFRICA
BOWMAN GILFILLAN INC.
(REGISTRATION NUMBER 1998/021409/21)
SPONSORING BROKERS
STANDARD EQUITIES (PTY) LTD
REGISTRATION NUMBER 1972/008305/07
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
DEUTSCHE BANK SECURITIES (PTY) LTD
(REGISTRATION NUMBER 1973/006709/07)
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
SPONSORING BROKER IN NAMIBIA
PHILLIP J A VAN HEERDEN
MEMBER OF THE NAMIBIAN STOCK EXCHANGE
TRADING AS HSBC SECURITIES (NAMIBIA) (PTY) LTD
REG. NO. 95/505
C:WINDOWSTEMPSTANBIC 27 7 00 SENS.DOC