FirstRand/Saambou - Information for Saambou depositors

FirstRand Limited               Saambou Bank Limited

(Incorporated in the Republic   (Under curatorship)

of South Africa)                (Registration number
(Registration number            1987/005437/06)
66/10753/06)
Information for Saambou depositors

The board of directors of FirstRand Limited ("FirstRand") and the Curator of
Saambou  Bank Limited ("Saambou") are pleased to announce that they  are  in
the process of negotiating the terms of a transaction with the South African
Reserve  Bank  and  National Treasury.  The Minister of  Finance  has  today
agreed in principle to such a transaction, subject to appropriate agreements
being finalised.

The  successful  conclusion of the transaction will result  in  all  Saambou
depositors  gaining full access to their available funds, including  accrued
interest.

A detailed announcement in this regard will be made in due course.
Sandton
3 May 2002

Merchant bank and sponsor to    Curator to Saambou
FIrstRand                       John Louw
Rand Merchant Bank              KPMG