PSG Group Limited - Restructuring Of Board Of Directors

PSG Group Limited
(Registration number 1970/008484/06)
(PSG Group)
Share Code: PSG
ISIN: ZAE000013017
RESTRUCTURING OF BOARD OF DIRECTORS

PSG Group today announced with effect from 1 March 2002 the restructuring of
its Board of Directors.  The new PSG Group Board will comprise the original
founding executive directors and a majority of non-executive directors.
PSG Group, as an investment holding company, will be represented by

executives Jannie Mouton and Chris Otto on all PSG Group material

investments, including PSG Investment Bank, Capitec Bank, Channel Group, PSG
Investment Services and M-Cubed.
Jannie Mouton, PSG Group's Chairman, commented:

"Our thinking on the restructuring of the Board is in line with current
corporate  governance, eliminates conflicts of interest and results in group
operational directors focusing on their business as opposed to that of PSG
Group."

The new PSG Group Board comprises Executive Chairman, Jannie Mouton, MD,
Chris Otto and CEO PSG Investment Services, Jaap du Toit.  Non-Executive
directors are Patrick Burton, Kleintjie Bellingan, Marcus Jooste and Leone
Rouillard.
For further information:
*  Jannie Mouton  (021) 887 9602
*  Chris Otto     (021) 887 9602