FIRSTRAND LIMITED - PRESS RELEASE

MOMENTUM GROUP SELLS ITS STAKE IN HANSARD FINANCIAL TRUST

MOMENTUM GROUP LIMITED WHICH HOUSES THE INSURANCE INTERESTS OF FIRSTRAND
LIMITED,HAS SOLD ITS 25% STAKE IN HANSARD FINANCIAL TRUST FOR GBP5 MILLION.
HANSARD FINANCIAL TRUST IS AN ISLE OF MAN BASED FINANCIAL SERVICES COMPANY,
WHICH MOMENTUM GROUP ACQUIRED THROUGH THE MERGER WITH SOUTHERN LIFE IN 1998.
AS PART OF THE REVIEW OF MOMENTUM GROUP'S SHAREHOLDERS INVESTMENTS, IT BECAME
APPARENT THAT THERE WAS NO STATEGIC FIT OR POTENTIAL SYNERGIES BETWEEN HANSARD
AND MOMENTUM. THIS, TOGETHER WITH THE FACT THAT ANSBACHER, WHICH IS PART OF THE
FIRSTRAND GROUP, HAVE SIMILAR PRODUCT OFFERING TO LOCAL AND INTERNATIONAL
CLIENTS, RESULTED IN THE SALE.

"FIRSTRAND HAS THEREFORE TERMINATED ALL RELATIONSHIPS WITH HANSARD FINANCIAL
TRUST" , COMMENTED LAURIE DIPPENAAR, CEO FIRSTRAND LIMITED.
ENDS.
27 NOVEMBER
ISSUED BY FIRSTRAND LIMITED
CONTACT PERSON:             BETH VAN HEERDEN
                            TEL:012 673 7325
                            FAX: 012 663 5716
                            MOBILE:082 809 2344
ALTERNATIVE CONTACT:        LIZELLE PIENAAR
                            TEL:012 673 7324
                            FAX:012 663 5716