Sanlam Group - Sanlam Announcement Regarding The Disposal Of Its Absa

Sanlam Group - Sanlam Announcement Regarding The Disposal Of Its Absa           
Shareholding                                                                    
Sanlam Group                                                                    
Registered name: Sanlam Limited                                                 
(Registration number: 1959/001562/06)                                           
JSE share code: SLM                                                             
NSX share code: SLA                                                             
ISIN number: ZAE000028262                                                       
("Sanlam")                                                                      
SANLAM ANNOUNCEMENT REGARDING THE DISPOSAL OF ITS ABSA SHAREHOLDING             
Sanlam shareholders are referred to the SENS announcement on 9 May 2005 as well 
as the Sanlam circular to shareholders dated 19 May 2005 regarding the disposal 
of all or the majority of Sanlam"s shareholding in Absa Group Limited ("Absa"). 
Sanlam shareholders are advised that the closing date of the Barclays Bank PLC  
("Barclays") offer was Monday, 25 July 2005.                                    
In terms of the Barclays acquisition, Sanlam shareholders are advised that      
Sanlam has disposed of all of its beneficial holding of 124,3 million Absa      
ordinary shares in shareholders" funds. The total consideration to be received  
is therefore R10,3 billion.                                                     
Shareholders are further referred to Sanlam"s capital management announcement   
released on SENS on 11 July 2005. Sanlam announced that it currently holds      
capital of approximately R7 billion in excess of its requirements and that the  
disposal of its Absa shareholding provides certainty on the liquidity required  
to proceed with the utilisation of surplus capital within the Group as          
announced.                                                                      
Bellville                                                                       
26 July 2005                                                                    
Financial advisor and transaction sponsor:                                      
Deutsche Securities                                                             
Member of the Deutsche Bank Group                                               
Attorneys:                                                                      
Jowell Glyn & Marais                                                            
Reporting accountants:                                                          
PricewaterhouseCoopers Inc                                                      
Chartered Accountants(SA)                                                       
Registered Accountants and Auditors                                             
(Registration no 1998/012055/21)                                                
and                                                                             
Ernst & Young                                                                   
Chartered Accountants(SA)                                                       
(Registered Accountants and Auditors)                                           
Date: 26/07/2005 04:46:06 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department