SGA - AUTOMATIC CASH SETTLEMENT AMOUNT ON THE EXPIRATION DATE

SGA Societe Generale Acceptance N.V.

(Incorporated in The Netherlands Antilles on 7 October 1986)


Completion and delivery of an Exercise Notice will not be necessary as all
registered holders will receive an automatic Cash Settlement Amount on the
Expiration Date.

EXPIRY OF EQUITY CALL WARRANTS

Stock    Issue     Exercise Cover    Exercise Option Expiration  JSE

         Size      Price    Rate     Style    Type   Date        Code
Fedsure
Holdings

Ltd      10,000,00 R65,00   10 for 1 American call   24 May 2001 1FDSSG
Nedcor

Ltd      25,000,00 R185,00  10 for 1 American call   24 May 2001 1NEDSG
RMB
Holdings

Ltd      20,000,00  R15,00   10 for 1 American call   24 May 2001 1RMHSG
Standard
Bank
Investment
Corporation

Limited  10,000,00  R35,00   10 for 1 American call   24 May 2001 1SBCSG
The abovementioned Warrants will expire on 24 May 2001 respectively. Holders
should ensure that their holdings are registered prior to this date as only
registered holders will be entitled to exercise.

It will not be necessary for a warrantholder to complete and deliver an
effective Exercise Notice, as all unexercised Warrants will be deemed to
have been automatically exercised on the Expiration Date, with payment of
100% of the Cash Settlement Amount on the Cash Payment Date in accordance
with the Terms and Conditions.

The Warrants are exercisable only in accordance with the Terms and
Conditions set out in the Offering Circular.

Copies of the Offering Circular in respect of the Warrants are available
from the offices of the Sponsors, SG Securities (Johannesburg) (Pty) Ltd at
3rd Floor, Societe Generale House, Wellington Road, Parktown, South Africa.
Sponsors

  SG Securities (Johannesburg) (Proprietary) Limited
  Registration number 1996/005841/07
  (Member of the JSE)
Guarantor
  Societe Generale
  Reg. No. 96/06193/10
Attorneys
  Deneys Reitz Attorneys Inc.
  Reg. No. 1984/003385/21