SANLAM INVOLVED IN NEW EUROPEAN VENTURE

NEWS RELEASE
20 April 2001

Sanlam and Marlborough Stirling Administration (MSA) have entered into an
agreement to promote third-party administration services provided by Sanlam
Life in the individual life and pensions market.

Through the Sanlam Marlborough Stirling agreement, life and pensions companies
can now be provided with a premium quality, offshore, IT and administration
outsourcing service. Capable of administering a wide range of life and pension
products, the service is targeted primarily at the UK and European markets.
Marlborough Stirling, a United Kingdom-based supplier of software and services
to the mortgages, life and pensions and investment market sectors of the
financial services industry, achieved a turnover of approximately GBP50 million
in 2000.

In addition to providing a complete client-based life and pensions

administration package and outsourcing service, it is also a leading provider
of third-party administration.

In addition to Sanlam, Marlborough Stirling's clients include Alliance &
Leicester, Bank of Scotland, Citilife Financial, Clerical Medical, Egg,
Nationwide Building Society, Northern Rock, Prudential and Sun Life Financial
of Canada.

Lize Lambrecths, chief executive of Sanlam Life, says the deal plays to each
party's core strength by combining Sanlam's strong administrative capability
with Marlborough Stirling's business solution skills.

"Sanlam will perform the third-party administration on Marlborough Stirling's
Lamda system, the same administrative platform currently used by Sanlam for its
new generation products."

"Marlborough Stirling will remain responsible for the distribution of the
service, as well as the customisation, implementation and maintenance of the
administrative platform."

Lambrecths says this deal makes it possible for Sanlam to leverage the
experience gained by Marlborough Stirling to promote, implement and run a
third-party administration operation.

Initially, she says, distribution will focus on new and closed books in the UK.
 However, it is envisaged that the operation will be extended to the rest of
Europe.

European life insurance companies will not only be offered a highly

sophisticated and scalable third-party administration opportunity, but also a
significantly cheaper one.

"We believe that this will be a combination that will be hard to resist by a
large number of players in the market."

Sanlam went live on Marlborough Stirling's Lamda life and pensions

administration solution in October 1999 and currently writes around 50% of its
South African new business on the system.

Sanlam currently administers more than three and a half million policies at
comparatively low cost due to its efficient processes, use of technology, and
the lower employment costs in South Africa. This means that it can offer  an
identical quality service to MSA in the UK, but at a reduced price.
Issued by Sanlam

For further information contact Esann de Kock at (021) 947 5435
About Marlborough Stirling

Marlborough  Stirling  (www.marlborough-stirling.com) provides software and
services for the mortgages, life and pensions and investment market sectors.
Its software and services are designed to enable financial service providers to
meet consumer's demand for products that are flexible, capable of being
distributed through a variety of channels and processed efficiently.

It employs approximately 870 people and has offices in  Cheltenham, Camberley,
Brighton, Dublin, Douglas in the Isle of Man, Cape Town in South Africa and
Toronto and Vancouver in Canada.

Any views expressed in this message are those of the individual sender, except
where the sender specifically states them to be those of Sanlam, to whom no
liability shall attach whatsoever.