PSG /PSG Group/ABSA Group - RESULTS OF SCHEME AND OTHER MEETINGS

PSG /PSG Group/ABSA Group - RESULTS OF SCHEME AND OTHER MEETINGS                
PSG INVESTMENT BANK     PSG GROUP LIMITED       Absa Group Limited              
HOLDINGS LIMITED                                                                
(Incorporated in the    (Incorporated in the    (Incorporated in the            
Republic of South       Republic of South       Republic of South               
Africa)                 Africa)                 Africa)                         
(Registration number:   (Registration number:   (Registration number:           
1998/017358/06)         1970/008484/06          1986/003934/06)                 
Share code: PGH  ISIN:  Share code:  PSG        JSE code: ASA  Issuer           
ZAE000018818            ISIN:  ZAE000013017)    code: AMAGB                     
("PSGBH")               ("PSG Group")           ISIN: ZAE 000013389             
("Absa")                        

RESULTS OF SCHEME AND OTHER MEETINGS                                            
1.   Results of scheme meeting                                                  
     Further to the announcement dated 14 February 2003, PSGBH shareholders are 
advised that at the scheme meeting held on Monday, 10 March 2003, a        
     majority in number representing 99.74% of the votes exercisable by PSGBH   
     shareholders present and voting at the scheme meeting in person or by      
     proxy, approved, without modification, the scheme of arrangement in terms  
of section 311 of the Companies Act, 1973 (Act 61 of 1973), as amended     
     ("the scheme"), proposed by Absa Group Limited ("Absa") between PSGBH and  
     its shareholders.                                                          
2.   Results of other meetings                                                  
At the general meetings of shareholders of PSGBH and PSG Group, all        
     ordinary resolutions proposed (relating to the disposal by PSG Group of its
     56,5% interest in PSGBH to Absa pursuant to the scheme, the disposal of    
     certain assets and liabilities by PSBH to PSG Group and cash distributions 
to PSGBH and PSG Group shareholders) were passed by the requisite          
     majorities.                                                                
3.   Application to Court                                                       
     Application will be made to the High Court of South Africa (Witwatersrand  
Local Division) ("the Court") to sanction the scheme on Tuesday, 18 March  
     2003 at 10:00 or as soon thereafter as Counsel may be heard.  If the scheme
     is sanctioned by the Court, the only remaining condition precedent to which
     the scheme will be subject, will be the registration of the Order of Court 
sanctioning the scheme by the Registrar of Companies.                      
4.   Further announcement                                                       
     A further announcement regarding the outcome of the application to the     
     Court and details of the surrender procedures for existing PSGBH documents 
of title will be made at the appropriate times.                            
     The salient dates and times, announced on 14 February 2003, remain         
     unchanged.                                                                 
Johannesburg                                                                    
10 March 2003                                                                   
Lead sponsor to PSG Independent advisor  Merchant Bank and                      
Group and PSGBH     to PSGBH             joint sponsor to                       
                                         Absa                                   
PricewaterhouseCoop Rand Merchant Bank   Absa Corporate and                     
ers                 Corporate Finance    Merchant Bank                          
Corporate Finance                        Corporate Finance                      
(Pty) Ltd                                                                       
Joint sponsor and   Reporting            Lead sponsor to                        
corporate adviser   accountants          Absa                                   
to PSG Group and                                                                
PSGBH               PricewaterhouseCoop  Merrill Lynch South                    
ers Inc              Africa (Pty) Ltd                       

PSG Capital Limited Chartered                                                   
                    Accountants (SA)                                            
  Attorneys to PSG  Attorneys to PSGBH  Attorneys to Absa                       
Group                                 and  the scheme                         
  Jan S. de         Fluxmans Attorneys  Cliffe Dekker Inc.                      
  Villiers                                                                      
  Attorneys