Cancellation By Stanbic Of Treasury Shares

Standard Bank Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/017128/06)
Share code : SBC
ISIN code : ZAE000014858
("Stanbic")
CANCELLATION BY STANBIC OF TREASURY SHARES

  Standard Corporate and Merchant Bank is authorised to announce that
Stanbic has cancelled 101 086 422 Stanbic shares (representing 7,1% of the
issued share capital of Stanbic) held by a subsidiary of Stanbic ("the
treasury shares").

  The treasury shares have been cancelled in the issued but not the

authorised share capital of Stanbic. An application to terminate the listing
of the treasury shares with effect from 28 September 2001 has been granted
by the JSE Securities Exchange South Africa.

  The cancellation will have no financial effect on the results per share of
Stanbic since the treasury shares have always been treated as cancelled for
accounting purposes.
Johannesburg
28 September 2001

Merchant bank and sponsor to Stanbic in South Africa
Standard Corporate and Merchant Bank
A division of The Standard Bank of South Africa
(Registration number 1962/000738/06)
Legal advisers to Stanbic
Bowman Gilfillan Inc.
(Registration number 1998/021409/21)
Sponsoring broker to Stanbic in Namibia
HSBC
Phillip JA van Heerden
Member of the Namibian Stock Exchange

Trading as HSBC Securities (Namibia) (Pty) Limited
Reg. No. 95/505