SANLAM LIMITED : EXECUTIVE DIRECTOR TO LEAVE FULL-TIME SERVICE

Sanlamhof, 4 April 2001

Mr Anton Botha (47), chief executive of Gensec and executive director of Sanlam
Limited, will leave the full-time service of the Group on 30 April 2001. He
will become non-executive chairman of Gensec Bank and will remain a member of
the Board of Sanlam Investment Management, formerly Gensec Asset Management.
Announcing his decision in Bellville today, Mr Botha said that while there were
other full-time options he could pursue in the Sanlam Group, he has opted for
the latter two, which best suited him personally.

"I have had 22 fulfilling years of service in the Group since I started at
Gencor in 1981. Sanlam's acquisition of the minority interests in Gensec at the
end of 2000 was the right decision, and one that I fully supported.

With Sanlam Investment Management and Gensec Bank now operating as wholly-owned
subsidiaries of Sanlam, my position as chief executive of the Gensec Group has
in a sense become redundant.

"In considering my options, I thought now was a good time to leave the Group's
full-time service but to remain involved in those areas of its business that I
find most rewarding. This will also afford me the opportunity to look at other
options that I did not have time for in the past. I am convinced that the Group
is well on its way to achieving its goals and I have made my decision with the
support of Sanlam's executive chairman, Marinus Daling, and my colleagues in
the Group," he said.

Mr Daling said that he was sorry to lose the full-time services of Anton Botha.
"He has made a significant contribution to the development of Gensec in
particular and also played an important leadership role in the discussions for
acquiring the minority interests of the Group last year.

However, I respect his decision and am pleased that we will retain his
capabilities as chairman of Gensec Bank and on the board of Sanlam Investment
Management."
Ends

Issued by Frans van Rensburg, Sanlam Corporate Affairs
Tel (021) 947-4893

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