FIRSTRAND LIMITED - MEDIA STATEMENT

FIRSTRAND LIMITED - MEDIA STATEMENT                                             
FIRSTRAND LIMITED                                                               
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1966/010753/06)                                           
Share Code: FSR                                                                 
ISIN: ZAE000014973                                                              
MEDIA STATEMENT                                                                 
The following is a copy of a media statement issued by Ansbacher (Cayman)       
Limited ("Ansbacher") for information purposes only.                            
"MEDIA STATEMENT: 17th DECEMBER 2003                                            
Re SETTLEMENT BY ANSBACHER (CAYMAN) LIMITED AND OTHERS OF THE APPLICATION BY THE
IRISH MINISTER FOR JUSTICE EQUALITY AND LAW REFORM FOR COSTS OF INSPECTION.     
 On Tuesday 16th December 2003 the application by the Irish Minister for        
Justice, Equality and Law Reform (`the Minister") to recover the costs and      
expenses of the Inspection into Ansbacher (Cayman) Limited (`the Bank") was     
settled in the Irish High Court.                                                
The Minister"s application involved -                                           
Ansbacher (Cayman) Limited                                                      
Hamilton Ross Company Limited                                                   
Guinness & Mahon (Ireland) Limited                                              
Guinness Mahon & Company Limited (London)                                       
Henry Ansbacher London Limited                                                  
CRH Plc                                                                         
Bank of Ireland Private Banking Limited                                         
IIB Bank Limited                                                                
The Central Bank of Ireland                                                     
Pursuant to the settlement, the Bank and certain of the other parties have made 
a contribution to the costs and expenses incurred by the Minister. In the case  
of the Bank, this contribution amounts to approximately 25% of the estimated    
amount sought by the Minister, for which the Bank is fully provided.            
The Bank continues to believe that there were compelling arguments against the  
making of any contribution. Its decision to make this payment, entirely on a    
without prejudice basis, was prompted by its assessment of the likely protracted
and lengthy litigation and consequent substantial legal costs which would be    
involved going forward in these complex proceedings.                            
This matter relates to events dating back over thirty years. Ansbacher acquired 
Guinness Mahon Cayman Trust in 1988, some seventeen years after it had been set 
up by Guinness Mahon (Ireland) Limited.                                         
Ansbacher Group Chief Executive Richard Spilg commented:                        
`This is a pragmatic settlement that brings matters with the Minister to        
finality.  We are pleased that the Minister has accepted the Bank"s contribution
in full and final settlement of these proceedings.                              
It was not in the interests of any of the parties to this application to pursue 
the matter that would have involved very costly, protracted and complex         
litigation.                                                                     
Ansbacher is a responsible corporate citizen and has cooperated fully with the  
Irish Inspectors throughout this long, drawn out affair in circumstances where  
the core activities under investigation took place nearly thirty years ago,     
before Ansbacher"s involvement.                                                 
For further information please contact either:                                  
Michael Mayhew-Arnold    Group Legal Director          +44 20 7283 2500         
Richard Spilg            Group Chief Executive         +44 20 7283 2500         
Ralph Jackson            The Jackson Consultancy       +44 20 7323 3272         
 Sandton                                                                        
17 December 2003                                                                
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
CORPORATE FINANCE                                                               
Date: 18/12/2003 07:01:09 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department