Sanlam Group - Reference to Absa Group Limited ("Absa") cautionary announcement

Sanlam Group - Reference to Absa Group Limited ("Absa") cautionary announcement 
Sanlam Group                                                                    
Registered name: Sanlam Limited                                                 
(Registration number 1959/001562/06)                                            
JSE share code: SLM                                                             
NSX share code: SLA                                                             
ISIN number: ZAE000028262                                                       
("Sanlam")                                                                      
Reference to Absa Group Limited ("Absa") cautionary announcement                
Sanlam shareholders are referred to the announcement released on the Stock      
Exchange News Service by Absa earlier today regarding a potential offer for its 
shares.                                                                         
As its largest single shareholder, Sanlam has a substantial strategic interest  
in Absa. The Sanlam Board will consider any offer for its investment in Absa on 
the potential to deliver appropriate value for Sanlam.  Shareholders will be    
kept informed of all relevant developments.                                     
Cape Town                                                                       
23 September 2004                                                               
Sponsor                                                                         
JP Morgan                                                                       
Date: 23/09/2004 10:33:51 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department