APPOINTMENT OF NEW DIRECTORS TO SANLAM"S BOARD

APPOINTMENT OF NEW DIRECTORS TO SANLAM"S BOARD                                  
Sanlam Limited                                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 1959/001562/06)                                            
Share code : SLM                                                                
ISIN : ZAE000028262                                                             
("Sanlam" or "the Company")                                                     
2 April 2004                                                                    
APPOINTMENT OF NEW DIRECTORS TO SANLAM"S BOARD                                  
The Board of Directors of Sanlam Limited ("Sanlam") yesterday (1 April)         
confirmed the appointment of Mr Patrice Motsepe as a non-executive director and 
deputy chairman of Sanlam"s Board following the approval of Sanlam"s empowerment
transaction with Ubuntu-Botho (Proprietary) Limited ("Ubuntu-Botho") by Sanlam  
shareholders at a General Meeting on 1 April 2004. This appointment is subject  
to the completion of the transaction which is expected later in April 2004.     
In terms of the transaction, Ubuntu-Botho is entitled to put forward three non- 
executive directors to Sanlam"s Board for its consideration.  The Board earlier 
announced the nomination of Mr Motsepe and yesterday also approved the          
appointment of the two other nominees of Ubuntu-Botho, Dr Rejoice Vakashile     
Simelane and Mr Bernard Swanepoel also subject to the completion of the         
transaction.                                                                    
These nominated directors will sit on Sanlam"s Board until its Annual General   
Meeting in June 2004 when their nominations must be considered by Sanlam        
ordinary shareholders for re-appointment.                                       
Mr Motsepe is chairman of Ubuntu-Botho Investments, chairman and founder of     
Future Mining, chairman of Harmony Gold Mining Company Limited ("Harmony") and  
chairman of African Rainbow Minerals and Exploration Investments (Proprietary)  
Limited ("ARMI").                                                               
Dr Simelane is the newly appointed chief executive of Ubuntu-Botho and will     
retire in June 2004 as special adviser (Economics) to the Premier of Mpumalanga.
She is a director of Harmony and serves on the Advisory Board of the Bureau for 
Economic Policy Analysis.                                                       
Mr Swanepoel is chief executive of Harmony. He is the current vice president of 
the South African Chamber of Mines and the chairman of Abelle Limited. He is a  
non-executive director of Anglovaal Mining Limited and Virtual Metals and is a  
trustee on the board of the New Africa Mining Fund.                             
Ends                                                                            
Date: 02/04/2004 02:57:12 PM Supplied by www.sharenet.co.za                     
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