Sanlam Limited - New Chief Executive Officer

Sanlam Limited - New Chief Executive Officer                                    
Sanlam Limited                                                                  
ISIN:       ZAE000028262                                                        
Share code: SLM                                                                 
News Release                                                                    
Sanlam"s Board of Directors announced today that Dr Johan van Zyl (46) has been 
appointed as Chief Executive Officer of Sanlam Limited with effect from Monday, 
31 March 2003. Johan has been on the board of Sanlam since 2001 and is the Chief
Executive of Santam Limited.                                                    
Prior to joining Santam, Van Zyl was Vice-Chancellor and Principal of the       
University of Pretoria, where he established himself as a leader in             
transformation after effecting a significant financial turnaround, while        
positioning the university as a diverse institution.                            
"As Chief Executive of Santam, Johan has been quick to demonstrate his visionary
leadership, business acumen and strong management skills, as evidenced in the   
excellent results reported by Santam for 2002. As a Sanlam board member he has  
made a strong and valuable input," said Ton Vosloo, the Chairman of Sanlam.     
The appointment is the result of a rigorous search conducted by the Human       
Resource sub-committee comprised of independent non-executive directors of the  
Board, who evaluated external and internal candidates from South Africa and     
abroad.                                                                         
Van Zyl said: "I look forward to leading Sanlam. The group is well positioned to
grow its strong brand and deliver stakeholder value through refocusing on       
operational excellence.  The company has excellent people, best of breed        
products and brands, product development expertise and improving investment     
performance."                                                                   
The Board thanked Flip Rademeyer (55) and said he skilfully led Sanlam in the   
challenging role of acting CEO since December 2002.  The Board also announced   
that he would remain at Sanlam as part of the executive management team and     
Board.                                                                          
Vosloo concluded: "Johan"s appointment will allow us to meet our objectives of  
continuing to build client relationships, strengthening our internal teams,     
improving operational performance, taking advantage of opportunities in the     
global marketplace and increasing our domestic market share."                   
Note to editors.                                                                
Sanlam is one of the largest financial services groups in South Africa with     
assets under management of R246 billion.  The Group consists of Sanlam Life, a  
major provider of individual life insurance, retirement annuities, saving       
products, unit trusts, and investment and group funds and schemes, Sanlam       
Investment Management, the second largest investment manager measured by assets 
under management, Gensec bank which provides investment banking solutions,      
Sanlam International which operates an integrated business complex targeting    
affluent and institutional markets, and Gensec Property Services which          
undertakes various property management services.  Sanlam has a strategic        
investment of 54,1% in Santam, the largest short-term insurance company.        
CV :  J van Zyl (Johan) (46)                                                    
B.Sc. Agriculture; B.Sc. Agriculture (Hons); M.Sc. Agriculture; D.Sc.           
Agriculture (1985); and Ph.D. Economics (1990)                                  
Johan has been CEO of Santam since August 2001 where he demonstrated his        
visionary leadership, business acumen and strong management skills. Under his   
leadership Santam reported excellent results for 2002 and he was instrumental in
Santam"s recent strategic UK acquisitions.                                      
He has been an executive director of Sanlam since 2001 where he has made a      
valuable input as a board member.                                               
Johan began his career as an agricultural economist and was appointed as a      
lecturer in the Department of Agricultural Economics at the University of       
Pretoria (UP) in 1983. He has worked as a consultant in the Department of       
Agriculture & Natural Resources at the World Bank in Washington D.C.            
Issued by Brunswick SA                  011 268 5750                            
Heidi Geldenhuys                        083 325 8924                            
Di Munro                                083 326 5958                            
On behalf of Sanlam                                                             
Frans Van Rensburg                      021 947 4893                            
082 805 9245