PSG GROUP/ESCHER - RESULTS OF THE RENOUNCEABLE

PSG GROUP LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1970/008484/06)
("PSG GROUP")
ESCHER GROUP LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1998/014568/06)
("ESCHER")

RESULTS OF THE RENOUNCEABLE RIGHTS OFFER TO PSGGROUP SHAREHOLDERS

PSGINVESTMENT BANK IS AUTHORISED TO ANNOUNCE THAT, WHEN THE RENOUNCEABLE RIGHTS
OFFER OF 41 850 000 ESCHER SHARES AT 100 CENTS PER SHARE CLOSED ON FRIDAY, 23
JUNE 2000, PSGGROUP SHAREHOLDERS HAD SUBSCRIBED FOR 30 206 375 SHARES (72%).
THE BALANCE OF 11 643 625 SHARES HAS BEEN TAKEN UP BY PSGGROUP ASUNDERWRITER,
WHO HAS RENOUNCED SUCH SHARES IN FAVOUR OF VARIOUS FINANCIAL INSTITUTIONS.
ALL APPLICATIONS BY PSGGROUP SHAREHOLDERS FOR ESCHER SHARES, INCLUDING EXCESS
APPLICATIONS, WILL BE ALLOTTED IN FULL.

SHARE CERTIFICATES WILL BE POSTED TO PSG GROUPSHAREHOLDERS TODAY.
JOHANNESBURG
30 JUNE 2000
INVESTMENT BANK
PSGINVESTMENT BANK
ATTORNEYS
HOFMEYR HERBSTEIN &GILHWALA INC
AUDITORS AND REPORTINGACCOUNTANTS
PRICEWATERHOUSECOOPERS INC
CHARTERED ACCOUNTANTS (SA)
REGISTERED ACCOUNTANTS AND AUDITORS
(REG NO 1998/012055/21)
JOINT SPONSORING BROKERS
PSGONLINE SECURITIES LIMITED
(REGISTRATION NUMBER 1996/000509/06)
(MEMBER OF THE JOHANNESBURG STOCKEXCHANGE)
UBSWARBURG
UBSWARBURG SECURITIES (SOUTH AFRICA) (PTY)LTD

UBSWARBURG SECURITIES (SOUTH AFRICA) (PTY)LTD IS A SUBSIDIARY OF UBS AG
UBSWARBURG IS A FINANCIAL SERVICES GROUP OF UBS AG
(MEMBER OF THE JOHANNESBURG STOCK EXCHANGE)