DISPOSAL BY PEPKOR OF INTEREST IN CASHBUILD

CASHBUILD LIMITED
REGISTRATION NO. 1986/001503/06
("CASHBUILD")
PEPKOR LIMITED
REGISTRATION NO. 1965/007765/06
("PEPKOR")
DISPOSAL BY PEPKOR OF INTEREST IN CASHBUILD
1. INTRODUCTION

BOE MERCHANT BANK IS AUTHORISED TO ANNOUNCE THAT PEPKOR HAS DISPOSED OF A
46,30% INTEREST IN CASHBUILD AS FOLLOWS:

SHAREHOLDER                        INTEREST ACQUIRED (%)
CASHBUILD SHARE TRUST              8,61
MANAGEMENT SPV                     7,54
INSTITUTIONS                       21,75
SUPPLIERS                          8,40
TOTAL                              46,30
2. RATIONALE FOR DISPOSAL

THE DISPOSAL IS IN LINE WITH PEPKOR'S STATED OBJECTIVE OF DISINVESTING FROM
NON-CORE INVESTMENTS. IT HAS BEEN PEPKOR'S PREFERENCE THAT THE MANAGEMENT OF
CASHBUILD PARTICIPATE IN THE DISPOSAL, WHICH HAS BEEN ACHIEVED IN THAT
MANAGEMENT, DIRECTLY AND INDIRECTLY, WILL NOW OWN 33,93% OF CASHBUILD.
3. CONTINUED SUPPORT

THE BANKERS AND SUPPLIERS OF CASHBUILD HAVE PLEDGED THEIR CONTINUED SUPPORT AND
OPERATIONS WILL CONTINUE NORMALLY.
4. NO OFFER TO MINORITIES

AS A RESULT OF NO PARTY OR PARTIES ACQUIRING CONTROL OF CASHBUILD, THERE IS NO
REQUIREMENT TO EXTEND AN OFFER TO THE MINORITY SHAREHOLDERS OF CASHBUILD IN
TERMS OF THE SECURITIES REGULATION CODE AND RULES OF THE SECURITIES REGULATION
PANEL.
20 JUNE 2000
BOE MERCHANT BANK
FINANCIAL ADVISOR AND PLACING AGENT