IFUSION - IMPLEMENTATION AND EXTENSION OF THE CLOSING DATE OF OFFER

I-FUSION HOLDINGS LIMITED
  (INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
  (REGISTRATION NUMBER 1983/013542/06)
  ("I-FUSION")
THE BIDVEST GROUP LIMITED
  (INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
  (REGISTRATION NUMBER 1946/021180/06)
  ("BIDVEST")

IMPLEMENTATION OF AND FINAL EXTENSION OF THE CLOSING DATE FOR THE OFFER BY
BIDVEST TO ALL I-FUSION SHAREHOLDERS TO ACQUIRE ALL OR A PORTION OF THEIR
I-FUSION SHARES ("THE OFFER")

FURTHER TO THE ANNOUNCEMENT DATED 25 JULY 2000 AND THE CIRCULAR TO I-FUSION
SHAREHOLDERS DATED 15 JUNE 2000 ("THE CIRCULAR"), INVESTEC BANK LIMITED IS
AUTHORISED TO ANNOUNCE THAT THE FINAL CONDITION PRECEDENT TO WHICH THE OFFER IS
SUBJECT, NAMELY THE GRANTING OF COMPETITION TRIBUNAL APPROVAL, HAS BEEN
FULFILLED.

THE SPECIAL RESOLUTIONS, AS APPROVED AT THE GENERAL MEETING, ARE CURRENTLY
BEING REGISTERED BY THE REGISTRAR OF COMPANIES.

ACCORDINGLY, THE BOARD HAS DECIDED TO EXTEND THE FINAL CLOSING DATE OF THE
OFFER TO THE CLOSE OF BUSINESS ON FRIDAY, 1 SEPTEMBER 2000.

THE RELEVANT OFFER CONSIDERATION WILL BE DISPATCHED WITHIN FIVE BUSINESS DAYS
AFTER ACCEPTANCE OF THE OFFER OR THE DATE HEREOF, WHICHEVER IS THE LATER, TO
THOSE I-FUSION SHAREHOLDERS WHO HAVE ALREADY COMPLETED AND SIGNED THE RELEVANT
FORM OF ACCEPTANCE, ELECTION, TRANSFER AND SURRENDER AND SUBMITTED THE RELEVANT
DOCUMENTS OF TITLE IN RESPECT OF THEIR I-FUSION SHARES TO THE TRANSFER
SECRETARIES, MERCANTILE REGISTRARS LIMITED, 10TH FLOOR, 11 DIAGONAL STREET,
JOHANNESBURG, 2001 (PO BOX 7184, JOHANNESBURG, 2000) ("THE TRANSFER
SECRETARIES").

THOSE I-FUSION SHAREHOLDERS WHO HAVE NOT YET COMPLETED AND SIGNED THE RELEVANT
FORM OF ACCEPTANCE, ELECTION, TRANSFER AND SURRENDER AND SUBMITTED IT TO THE
TRANSFER SECRETARIES, TOGETHER WITH THE RELEVANT DOCUMENTS OF TITLE IN RESPECT
OF THEIR I-FUSION SHARES, ARE REMINDED THAT THE OFFER WILL CLOSE ON FRIDAY, 1
SEPTEMBER 2000, AND THAT IN ORDER TO ACCEPT THE OFFER AND TO RECEIVE THE OFFER
CONSIDERATION, SUCH FORMS OF ACCEPTANCE, ELECTION, TRANSFER AND SURRENDER AND
THE RELEVANT DOCUMENTS OF TITLE MUST BE RECEIVED BY THE TRANSFER SECRETARIES ON
OR BEFORE THAT DATE.

THE FINAL SALIENT DATES AND TIMES PERTAINING TO THE OFFER ARE AS FOLLOWS:
                                                       2000
SURRENDER CIRCULAR FOR THE REDUCTION OF

THE PAR VALUE OF I-FUSION SHARES POSTED ON             THURSDAY, 17 AUGUST
CHEQUES TO I-FUSION SHAREHOLDERS WHO HAVE ALREADY
ACCEPTED THE OFFER OR THE ALTERNATIVE OFFER WILL

BE POSTED ON                                           THURSDAY, 24 AUGUST
OFFER AND ALTERNATIVE OFFER CLOSES AT THE

CLOSE OF BUSINESS ON                                   FRIDAY, 1 SEPTEMBER
LATE POSTAL ACCEPTANCES OF THE OFFER AND ALTERNATIVE
OFFER (POSTMARKED ON OR BEFORE 1 SEPTEMBER 2000)

RECEIVED UNTIL 12:30 ON                                MONDAY, 4 SEPTEMBER
ANNOUNCEMENT OF RESULTS OF THE OFFER AND

ALTERNATIVE OFFER PUBLISHED ON                         THURSDAY, 7 SEPTEMBER
LAST DAY ON WHICH EXISTING I-FUSION SHARE CERTIFICATES

WILL BE GOOD FOR DELIVERY ON THE JOHANNESBURG STOCK

EXCHANGE ("THE JSE") AT THE CLOSE OF BUSINESS ON       FRIDAY, 8 SEPTEMBER
THE REDUCTION OF THE PAR VALUE OF I-FUSION SHARES

BECOMES EFFECTIVE ON                                   MONDAY, 11 SEPTEMBER
REPLACEMENT SHARE CERTIFICATES REFLECTING THE REDUCTION

OF THE PAR VALUE OF I-FUSION SHARES POSTED TO SHAREHOLDERS

WHO HAVE ALREADY SURRENDERED THEIR EXISTING I-FUSION

SHARE CERTIFICATES BY FRIDAY, 8 SEPTEMBER 2000 ON      MONDAY, 11 SEPTEMBER
ALL TRANSACTIONS ON THE JSE IN I-FUSION SHARES FOR THE WEEK ENDING FRIDAY, 8
SEPTEMBER 2000 WILL BE FOR IMMEDIATE SETTLEMENT.

ALL REFERENCES IN THE CIRCULAR TO THE FINAL CLOSING DATE AND TIME SHOULD BE
READ AS THE CLOSE OF BUSINESS ON FRIDAY, 1 SEPTEMBER 2000.

THIS ANNOUNCEMENT, TOGETHER WITH A FORM OF ACCEPTANCE, ELECTION, TRANSFER AND
SURRENDER AND A FORM OF SURRENDER FOR THE REDUCTION OF THE PAR VALUE OF
I-FUSION SHARES WILL BE MAILED TO I-FUSION SHAREHOLDERS TODAY.
JOHANNESBURG
17 AUGUST 2000
MERCHANT BANK
  INVESTEC CORPORATE FINANCE
  INVESTEC BANK LIMITED
  (REGISTRATION NUMBER 1969/004763/06)
SPONSORING BROKERS
  INVESTEC SECURITIES LIMITED
  MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
  REGISTRATION NO. 1972/008905/06
  MERRILL LYNCH SOUTH AFRICA (PTY) LTD
  MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
  REGISTRATION NUMBER 1995/001805/07

  SG SECURITIES (JOHANNESBURG) (PROPRIETARY) LIMITED
  REG. NO. 96/05841/07
  (MEMBER OF THE JOHANNESBURG STOCK EXCHANGE)
AUDITORS TO I-FUSION
  KPMG
  REGISTERED CHARTERED ACCOUNTANTS (SA)
INDEPENDENT ADVISER TO I-FUSION
  BARNARD JACOBS MELLET * SECURITIES (PTY) LTD.
  MEMBER OF THE JOHANNESBURG STOCK EXCAHNGE
  (REGISTRATION NUMBER 1987/000175/07)
ATTORNEYS TO I-FUSION
  WEBBER WENTZEL BOWENS
ATTORNEYS TO BIDVEST
  WERKSMANS ATTORNEYS