SEKUNJALO - RESULTS OF THE PREFERENTIAL OFFER

SEKUNJALO INVESTMENTS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 96/06093/06)
("SEKUNJALO")

RESULT OF THE PREFERENTIAL OFFER AND COMMENCEMENT OF LISTING
RESULT OF THE PREFERENTIAL OFFER

STANDARD CORPORATE AND MERCHANT BANK IS AUTHORISED TO ANNOUNCE THE RESULT OF
THE PREFERENTIAL OFFER OF 10 000 000 B ORDINARY SHARES OF 0,002 CENTS EACH IN
THE SHARE CAPITAL OF SEKUNJALO ("B ORDINARY SHARES"), AT A SUBSCRIPTION PRICE
OF 200 CENTS PER B ORDINARY SHARE.

AS A RESULT OF INVITATIONS TO TAKE UP THE PREFERENTIAL OFFER, WHICH WAS NOT
UNDERWRITTEN, APPLICATIONS WERE RECEIVED FOR 10 000 000 B ORDINARY SHARES AND
AS SUCH THE PREFERENTIAL OFFER WAS FULLY SUBSCRIBED.

SHARE CERTIFICATES IN RESPECT OF THE B ORDINARY SHARES ALLOTTED IN TERMS OF THE
PREFERENTIAL OFFER WILL BE POSTED TODAY TO THE APPLICANTS CONCERNED.
LISTING ON THE JOHANNESBURG STOCK EXCHANGE ("JSE")

THE JSE HAS GRANTED A LISTING OF 86 688 848 B ORDINARY SHARES IN THE INDUSTRIAL
- "HOTELS AND LEISURE" SECTOR OF THE JSE LIST, UNDER THE ABBREVIATED NAME
"SEKUNJALO", WITH EFFECT FROM TODAY, WEDNESDAY, 12 MAY 1999.
CAPE TOWN
12 MAY 1999
MERCHANT BANK
SCMB
STANDARD CORPORATE AND MERCHANT BANK

(A DIVISION OF THE STANDARD BANK OF SOUTH AFRICA LIMITED)
(REGISTRATION NUMBER 62/00738/06)
CORPORATE ADVISER
SEKUNJALO CAPITAL (PROPRIETARY) LIMITED
(REGISTRATION NUMBER 98/19320/07)
JOINT ATTORNEYS
SONNENBERG HOFFMANN & GALOMBIK INC.
(REGISTRATION NUMBER 93/00565/21)
VIJAY MOODALEY ATTORNEYS
JOINT SPONSORING BROKERS
STANDARD EQUITIES (PTY) LIMITED
(REGISTRATION NUMBER 72/08305/07)
(MEMBER OF THE JOHANNESBURG STOCK EXCHANGE)
LEGAE SECURITIES (PTY) LIMITED
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
REGISTRATION NUMBER 96/09555/07
AUDITORS AND REPORTING ACCOUNTANTS
FISHER HOFFMAN SITHOLE