NASPERS/THEBE SCITECH - ACQUISITION OF A STRATEGIC STAKE IN NEG

NASPERS LIMITED
(REGISTRATION NUMBER 04/01431/06)
("NASPERS")
THEBE SCITECH INVESTMENTS (PTY) LIMITED
(REGISTRATION NUMBER 95/0108/07)
("THEBE SCITECH")

ACQUISITION OF A STRATEGIC STAKE IN NATIONAL EDUCATION GROUP (PTY) LIMITED BY
THEBE SCITECH

FBC FIDELITY INVESTMENT BANK IS AUTHORISED TO ANNOUNCE THAT THEBE SCITECH HAS
SIGNED AN AGREEMENT WITH NASPERS, IN TERMS OF WHICH THEBE SCITECH HAS

RESTRUCTURED ITS EXISTING SHAREHOLDING IN NATIONAL EDUCATION GROUP (PTY)
LIMITED ("NEG") TO INCREASE IT TO 35% BY WAY OF A CASH INJECTION INTO NEG BY
WAY OF ACQUISITION OF ORDINARY SHARES AND CLAIMS AGAINST NEG FROM NASPERS, THE
MAJORITY SHAREHOLDER OF NEG.

NEG HOUSES THE BUSINESS OF NATIONAL PRIVATE COLLEGES ("NPC") WHICH OFFERS
PRIVATE, SECONDARY AND TERTIARY DISTANCE AND CONTACT TUITION. ITS TWO DISTANCE
EDUCATION INSTITUTIONS, LYCEUM COLLEGE AND SUCCESS COLLEGE, ARE MARKET LEADERS,
AND HAVE, FOR APPROXIMATELY 82 AND 54 YEARS RESPECTIVELY, BEEN OFFERING A WIDE
VARIETY OF COURSES IN ALL SUBJECTS WHERE SIGNIFICANT DEMAND EXISTS. MENTOR
BUSINESS COLLEGE, A CONTACT INSTITUTION, CONCENTRATES ON QUALITY BUSINESS AND
MANAGEMENT QUALIFICATIONS, ALL OF WHICH ARE ACCREDITED BY THE UNIVERSITY OF
PRETORIA OR THE ASSOCIATION OF CERTIFIED CHARTERED ACCOUNTANTS. TOGETHER THE
COLLEGES HAVE A STUDENT BASE OF OVER 120 000, MANY FROM PREVIOUSLY
DISADVANTAGED BACKGROUNDS.

WITH THE INTRODUCTION OF THEBE SCITECH AS ITS SIGNIFICANT BLACK EMPOWERMENT
PARTNER IN THE DISTANCE AND CONTACT TUITION BUSINESSES, NPC IS IDEALLY
POSITIONED TO TAKE ADVANTAGE OF THE OPPORTUNITIES AVAILABLE IN THIS HIGH GROWTH
INDUSTRY.
JOHANNESBURG
19 APRIL 1999
INVESTMENT BANK
FBC FIDELITY INVESTMENT BANK
(CORPORATE FINANCE)