SANLAM CLINCHES AUSTRALIAN DEAL

SANLAMHOF, 14 MARCH 2000

SANLAM ANNOUNCED TODAY THAT IT HAS SIGNED AN AGREEMENT WITH MACQUARIE BANK
LIMITED, A LEADING AUSTRALIAN FINANCIAL SERVICES GROUP, TO JOINTLY ESTABLISH A
SOUTH AFRICAN COMPANY WHICH WILL PROVIDE FINANCIAL SERVICES TO THE HIGH NET
WORTH SOUTH AFRICAN MARKET.

THIS TRANSACTION FOLLOWS LAST WEEK'S ANNOUNCEMENT BY MR MARINUS DALING,
SANLAM'S EXECUTIVE CHAIRMAN, THAT SANLAM HAD ESTABLISHED A NEW BUSINESS
DEVELOPMENT INITIATIVE UNDER LEADERSHIP OF MR CHARL LE ROUX, FORMER CHIEF
EXECUTIVE OF SANLAM HEALTH, TO EXPLORE OPPORTUNITIES FOR INVESTMENT AND TO
LAUNCH NEW INITIATIVES FOR STRUCTURAL GROWTH IN THE SANLAM GROUP.

MR LE ROUX SAID THAT MACQUARIE BANK IS WIDELY ASSOCIATED WITH FINANCIAL
INNOVATIONS AND BOASTS EXTENSIVE EXPERTISE IN FINANCIAL SERVICES. IT OPERATES
IN AUSTRALIA AND 11 OTHER COUNTRIES, WHERE IT HAS DEVELOPED A STRONG REPUTATION
FOR INNOVATIVE PRODUCTS AND EXCEPTIONAL SERVICE TO ITS CLIENTS.

"THESE ARE ESSENTIAL ELEMENTS TO SATISFY OUR CLIENTS, IN PARTICULAR TO MEET
THEIR SOPHISTICATED NEEDS IN THE TWENTY-FIRST CENTURY.

"WE ARE THEREFORE VERY EXCITED ABOUT THE BUSINESS EXPERTISE THAT MACQUARIE BANK
WILL ADD IN THIS REGARD.  THE NEW COMPANY WILL OFFER A TECHNOLOGY DRIVEN RANGE
OF INNOVATIVE FINANCIAL SOLUTIONS AND PRODUCTS, TARGETING HIGH NET WORTH
INVESTORS. WE EXPECT TO LAUNCH OUR FIRST PRODUCT WITHIN 12 MONTHS," MR LE ROUX
SAID.

MR DAVID ADAMS, EXECUTIVE DIRECTOR OF MACQUARIE BANK SAID FROM SYDNEY THAT HE
WAS OPTIMISTIC ABOUT THE PROSPECTS FOR GROWTH IN THE SOUTH AFRICAN INVESTMENT
INDUSTRY. "A STRONGER ECONOMY, MORE TRANSPARENT REGULATION AND INCREASED
INVESTOR AWARENESS WILL LEAD TO A SURGE IN DEMAND FOR BETTER INVESTMENT
SERVICES," HE SAID.

MACQUARIE BANK HAS FUNDS UNDER MANAGEMENT AND ADMINISTRATION IN EXCESS OF R140
BILLION (AUD35 BILLION) AND MANAGES AND ADMINISTERS A WIDE RANGE OF COLLECTIVE
INVESTMENTS FOR RETAIL AND INSTITUTIONAL INVESTORS, INCLUDING THE LARGEST
AUSTRALIAN RETAIL UNIT TRUST.

MR ADAMS WILL CHAIR THE NEW BUSINESS AND MR LE ROUX WILL BE THE CHIEF
EXECUTIVE.  MR DALING WILL BE A BOARD MEMBER.

ISSUED BY:  FRANS VAN RENSBURG, SANLAM MEDIA RELATIONS (021) 947-4893 / CELL
083 626 8955

ENQUIRIES:   CHARL LE ROUX, CHIEF EXECUTIVE: NEW BUSINESS DEVELOPMENT, SANLAM
TEL: (021) 947-2070.  EMAIL: CHARLLR@INVEST.SANLAM.CO.ZA

DAVID ADAMS, EXECUTIVE DIRECTOR, INVESTMENT SERVICES GROUP, MACQUARIE BANK
LIMITED, SYDNEY

TEL. (612) 8232 3436  EMAIL:  DADAMS@MACQUARIE.COM.AU

LISA JAMIESON, PUBLIC RELATIONS, MACQUARIE BANK LIMITED, SYDNEY

TEL. (612) 8232 6016  EMAIL:  LJAMIESO@MACQUARIE.COM.AU