SANLAM LAUNCHES MATRIX PORTFOLIOS LIMITED - PRESS RELEASE

THURSDAY, OCTOBER 28, 1999

TO MEET A GROWING NEED FROM RETIREMENT FUND TRUSTEES FOR INNOVATIVE

MULTI-MANAGER PRODUCTS AND EXPERT INVESTMENT ADVICE, SANLAM EMPLOYEE BENEFITS
HAS ESTABLISHED A NEW COMPANY, MATRIX PORTFOLIOS LIMITED.

THERE WILL INITIALLY BE THREE PRODUCTS AIMED AT DIFFERENT RISK PROFILES. THESE
ARE IDEALLY SUITED FOR AN INDIVIDUAL MEMBER CHOICE CONTEXT. THERE WILL ALSO BE
THE FACILITY FOR CLIENTS OF SUFFICIENT SIZE TO STRUCTURE THEIR OWN PORTFOLIOS.
THESE TAILOR-MADE SOLUTIONS WILL ENABLE CLIENTS' RISK PROFILES TO BE MATCHED
MORE PRECISELY.
THE RANGE IS AVAILABLE FROM NEXT MONTH (NOVEMBER).

THE MULTI-MANAGER PRODUCTS WILL EMPLOY ONLY SPECIALIST ASSET MANAGERS - EACH
HANDLING A SPECIFIC ASSET CLASS, THEREFORE MANAGERS ARE CHOSEN TO DO WHAT THEY
DO BEST. THIS IS IN CONTRAST WITH THE TRADITIONAL APPROACH REQUIRING MANAGERS
TO MANAGE ALL THE ASSET CLASSES IN A SINGLE FUND. THE MATRIX PORTFOLIOS
THEREFORE AVOID MANAGERS OPERATING IN AREAS WHICH ARE NOT THEIR PROVEN
STRENGTHS.

SANLAM EMPLOYEE BENEFITS CHIEF EXECUTIVE, NICK CHRISTODOULOU, SAID: "MATRIX
PORTFOLIOS STRIVES TO CREATE SYNERGIES BETWEEN THE STRENGTHS OF DIFFERENT ASSET
MANAGERS. ITS MULTI-MANAGER PRODUCTS HARNESS THOSE SYNERGIES, WHILE ITS EXPERT
INVESTMENT ADVICE ENSURES SOLUTIONS ARE TAILOR-MADE TO THE CLIENTS' NEEDS."
MATRIX PORTFOLIOS WILL BE ASSISTED IN THE MANAGEMENT OF ITS MULTI-MANAGER
PRODUCTS BY M3 CAPITAL, RECOGNISED AS THE PIONEER OF THE MULTI-MANAGER CONCEPT
IN SOUTH AFRICA. M3 CAPITAL WILL BE RESPONSIBLE FOR THE SELECTION OF ASSET
MANAGERS, ENSURING THE OBJECTIVITY OF THE SOLUTION. IT WILL ALSO ASSIST IN THE
BLENDING OF THESE ASSET MANAGERS INTO A SUITABLE SINGLE PORTFOLIO.

"MATRIX PORTFOLIOS COMPLEMENTS SEB'S EXISTING RANGE OF INVESTMENT PRODUCTS,
INCLUDING THE MARKET LINKED AND GUARANTEED PRODUCTS CURRENTLY MANAGED BY
GENSEC," SAID CHRISTODOULOU, "AND BETTER PLACES THE COMPANY TO MEET THE WIDE
SPECTRUM NEEDS OF ITS CLIENTS".
ISSUED BY:          SUSAN LABUSCHAGNE
                    SIMEKA TWS COMMUNICATIONS
                    TEL: (021) 421-6584
                    CELL: 083 229 5873
ON BEHALF OF:       SANLAM EMPLOYEE BENEFITS
                    SANLAMHOF, STRAND STREET
                    BELLVILLE

CONTACT:            NICK CHRISTODOULOU, CHIEF EXECUTIVE
                    TEL: (021) 947 6779
                    JEANINE COETZEE, COMMUNICATION
                    TEL: (021) 947-3982
                    CELL: 082 372 7382