SANLAM BREAKS GROUND IN HEALTH INSURANCE

SANLAM TODAY ANNOUNCED ITS PLANS FOR THE ESTABLISHMENT OF AN ON-LINE HEALTH
INSURANCE BUSINESS.  THE NEW 100%-OWNED BUSINESS UNIT, CURA, WILL OFFER
INSURANCE COVER FOR MEDICAL RISKS OVER THE INTERNET, COVERING A FAR BROADER
RANGE OF RISKS THAN PREVIOUSLY AVAILABLE TO CONSUMERS IN THE INSURANCE MARKET.
IT IS A FIRST FOR SOUTH AFRICA, AND POSSIBLY THE WORLD, BOTH IN THE ADOPTION OF
THE INTERNET PLATFORM AND THE FACT THAT ITS RANGE OF INSURED EVENTS - IN EXCESS
OF 4,000 - SURPASSES ANYTHING PREVIOUSLY OFFERED BY INSURERS.   THE COMPANY'S
STRATEGIC VISION IS TO COMBINE REAL WITH ELECTRONIC COMMERCE RETAILING
PLATFORMS WHICH RETURN TO CONSUMERS THE POWER OF CHOICE OVER THEIR HEALTH
RISKS.  CURA'S WEBSITE, WWW.CURA.CO.ZA, WILL OFFER A
COMPREHENSIVE SOLUTION FOR THE HEALTH NEEDS OF THOSE CONSUMERS WHICH REQUIRE
MORE PROTECTION FROM MEDICAL RISK THAN IS ON OFFER CURRENTLY.

THIS ANNOUNCEMENT FOLLOWS THE RECENT ESTABLISHMENT BY SANLAM OF A NEW BUSINESS
DEVELOPMENT INITIATIVE UNDER THE LEADERSHIP OF 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.

LE ROUX SAYS: "CURA IS A BY-PRODUCT OF THE DRAMATICALLY INCREASED CAPABILITY
WITHIN THE SANLAM GROUP FOR ENTREPRENEURSHIP AND INNOVATION.  THIS HAS BEEN A
FOCUS FOR THE PAST YEAR AND IT WILL BE A PROMINENT FEATURE OF THE GROUP IN
FUTURE."

SAYS CURA MANAGING DIRECTOR, PAUL ZONDAGH: "THE NEW COMPANY WILL OFFER A
TECHNOLOGY DRIVEN PRODUCT WHICH WILL BE ATTRACTIVE TO THE COMPUTER LITERATE 25
TO 45 AGE GROUP.  THE NATURE OF THE PRODUCT WILL BE OF STRONG INTEREST BOTH TO
THE UPPER INCOME GROUPS, AS WELL AS STUDENTS AND OTHER ASPIRATIONAL GROUPS, WHO
WANT TO BE INSURED AGAINST THE MAJOR MEDICAL RISKS."

THE CURA POLICY HAS BEEN CAREFULLY DESIGNED TO AVOID THE PITFALLS EXPOSED BY
OTHER PRODUCTS AND SANLAM HAS GONE TO LENGTHS TO ENSURE THAT THE PRODUCT
COMPLIES WITH THE LONG-TERM INSURANCE ACT AND DOES NOT CONTRAVENE ANY OTHER ACT
CURA DIFFERS FROM HYBRID HEALTH PRODUCTS OFFERED BY DISCOVERY AND FEDSURE WHICH
HAVE RECENTLY FALLEN FOUL OF THE REGISTRAR OF MEDICAL SCHEMES.  THE MAIN
DIFFERENTIATORS BETWEEN HEALTH INSURANCE AND MEDICAL SCHEMES ARE:

- INDEMNIFICATION: CURA'S INSURANCE POLICIES OFFER A STATED BENEFIT SUM ON THE
OCCURRENCE OF A PARTICULAR HEALTH RISK, AND THIS SUM IS PAID IRRESPECTIVE OF
THE ACTUAL COST INCURRED BY THE INSURED.  A MEDICAL SCHEME WILL TYPICALLY PAY
THE COSTS INCURRED, WHATEVER THEY ARE;

- THE PAYMENT ACTIVATOR: PAYMENT BY CURA IS ACTIVATED BY THE OCCURRENCE OF AN
INSURED EVENT, AT WHICH STATE THE STATED SUM IS PAID.  WITH A MEDICAL SCHEME,
THE PAYMENT IS ACTIVATED ON PRESENTATION OF THE BILL.

"WHEREAS THOSE COMPANIES WHICH HAVE FALLEN FOUL OF THE REGISTRAR OF MEDICAL
SCHEMES HAVE TYPICALLY TRANSFERRED THEIR MEDICAL SCHEME MEMBERS ACROSS TO
HEALTH INSURANCE, WHICH IS DEEMED TO BE A VIOLATION OF THE SPIRIT OF THE
MEDICAL SCHEMES ACT, WE HAVE NO SUCH INTENTION," SAYS ZONDAGH.  "SANLAM'S
EXISTING CLIENT BASE WILL NOT BE TARGETED, AND WHILE SOME MAY APPLY, THIS WILL
BE PURELY COINCIDENTAL.  WE ARE TARGETING AN ENTIRELY NEW MARKET WHICH IS AT
RISK BECAUSE IT HAS NO HEALTH COVER, OR INDIVIDUALS WHO REQUIRE TOP UP COVER
FOR RISKS THEY FEEL EXPOSED TO.  EITHER WAY, WE ARE TARGETING CONSUMERS WHO MAY
OTHERWISE AT SOME POINT BE A POTENTIAL LIABILITY TO THE STATE."

SANLAM HAS IDENTIFIED E-COMMERCE AS A HIGH GROWTH SECTOR, AND IT MAKES BUSINESS
SENSE TO ADD THIS PLATFORM TO ITS RETAIL STRUCTURES.

"WE RECOGNISE THAT THE INTERNET IS THE MEDIUM OF THE FUTURE.  CONSUMERS LIKE
THE HASSLE-FREE NATURE OF THE WEB, WHERE THEY CAN BROWSE AT THEIR OWN PACE AND
BE SERVED BY AN INTERACTIVE ELECTRONIC EXPERIENCE AROUND THEIR NEEDS.  THAT'S
WHAT OUR WEBSITE OFFERS," SAYS ZONDAGH.

CLAIMS WILL BE OF A LOW FREQUENCY WHICH, COMBINED WITH THE ELECTRONIC PLATFORM,
MEANS THAT THE ADMINISTRATIVE INFRASTRUCTURE WILL BE LOW COST COMPARED TO
TRADITIONAL INSURERS.
ENDS
ISSUED ON BEHALF OF   :   CURA
ISSUED BY             :   CORDEV MARKETING
CLIENT CONTACT        :   PAUL ZONDAGH

                          MANAGING DIRECTOR OF CURA
                          TELEPHONE : 021 947 1328
                          MOBILE : 082 459 6892

                          EMAIL : PZONDAGH@CURA.CO.ZA

CONSULTANCY CONTACT   :   WINNIE KYRIAKIDES/RENE VOSLOO
                          TELEPHONE : 011 783 2070
                          FACSIMILE : 011 783 4760
                          EMAIL:CORDEV@PIXIE.CO.ZA