ANNOUNCEMENT BY MURRAY AND ROBERTS

MURRAY AND ROBERTS HOLDINGS LIMITED
18 DECEMBER 2000
ANNOUNCEMENT BY MURRAY AND ROBERTS

IN A DEAL WORTH R 84,5 MILLION, A CAPE BASED FINANCIAL INSTITUTION HAS ACQUIRED
28,2 MILLION SHARES IN MURRAY AND ROBERTS HOLDINGS LIMITED AT 300 CENTS PER
SHARE.  THIS REPRESENTS 8,1% OF THE ISSUED SHARES OF THE COMPANY.

MURRAY AND ROBERTS HAS AGREED TO A BUY BACK OF 14,1 MILLION (50%) OF THESE
SHARES FROM THE INSTITUTION AT COST AND WITHIN 45 DAYS, SUBJECT TO REGULATORY
AND SHAREHOLDER APPROVALS.

COMMENTING ON THE DEAL, MURRAY AND ROBERTS GROUP CHIEF EXECUTIVE BRIAN BRUCE
SAYS: "AT ITS AGM IN OCTOBER, THE GROUP DID NOT RENEW ITS 1999 SHAREHOLDER
RESOLUTION ON SHARE BUY-BACKS.  WHEN APPROACHED BY THE INSTITUTION LAST WEEK TO
PARTICIPATE IN THE ACQUISITION OF A LARGE SINGLE BLOCK OF OUR SHARES PLACED ON
THE MARKET, WE CONSULTED OUR ADVISORS AND THE JSE.  CONSIDERING ALL FACTORS,
INCLUDING THE NUMBER OF SHARES AND THE PREVAILING MARKET PRICE RELATIVE TO OUR
FUTURE PROSPECTS, WE MADE THE DECISION TO TAKE ADVANTAGE OF THIS OPPORTUNITY."
MORE DETAILS WILL BE MADE AVAILABLE WHEN SHAREHOLDERS ARE ASKED TO APPROVE THE
PURCHASE AT A SPECIAL GENERAL MEETING IN JANUARY 2001, FOLLOWING NORMAL
SANCTION BY THE JSE SECURITIES EXCHANGE SOUTH AFRICA.