African Life/Sanlam/Momentum - Clarification of SENS announcement published on

African Life/Sanlam/Momentum - Clarification of SENS announcement published on  
                               25 November 2005                                 
African Life Assurance                                                          
Company Limited                                                                 
Incorporated in the Republic of South Africa                                    
Registration number: 1911/003818/06                                             
JSE code: AFI                                                                   
ISIN: ZAE000000246                                                              
("African Life")                                                                
Sanlam Limited                                                                  
Incorporated in the Republic of South Africa                                    
Registration number: 1959/001562/06                                             
JSE code: SLM                                                                   
NSX code: SLA                                                                   
ISIN: ZAE000070660                                                              
("Sanlam")                                                                      
Momentum Group Limited                                                          
Incorporated in the Republic of South Africa                                    
Registration number: 1904/002186/06                                             
("Momentum")                                                                    
Clarification of SENS announcement published on 25 November 2005                
Reference is made to the SENS announcement "Offer consideration" published on   
Friday, 25 November 2005. In order to avoid any confusion, African Life         
shareholders are advised that the African Life Health (Proprietary) Limited     
disposal has not become unconditional and, if the scheme becomes unconditional  
and is implemented, each scheme participant will receive the base offer         
consideration of R22.05 per African Life ordinary share on the operative date of
the scheme which is expected to be on or about Monday, 12 December 2005.        
Johannesburg                                                                    
28 November 2005                                                                
Corporate advisor to African Life                                               
Metier                                                                          
Sponsor to African Life                                                         
Merrill Lynch South Africa (Pty) Ltd                                            
Registration number 1995/001805/07                                              
Registered Sponsor and Member of the JSE Limited                                
Independent advisor to African Life                                             
KPMG                                                                            
Corporate law advisor to African Life                                           
Edward Nathan                                                                   
Corporate Law Advisers                                                          
Edward Nathan (Proprietary Limited)                                             
Registration No. 2004/005665/07                                                 
Reporting accountants to African Life                                           
PricewaterhouseCoopers Inc                                                      
Chartered Accountants (SA)                                                      
Registered Accountants and Auditors                                             
(Registration no 1998/012055/21)                                                
Attorneys to African Life                                                       
KNOWLES HUSAIN LINDSAY INC ATTORNEYS                                            
(Registration number 2000/000004/21)                                            
Corporate advisor and transactional sponsor to Sanlam                           
ABSA Corporate & Merchant Bank                                                  
Corporate Finance                                                               
ABSA Bank Limited                                                               
Reg No 1986/004794/06                                                           
Attorneys to Sanlam                                                             
JOWELL GLYN & MARAIS                                                            
Merchant bank to Momentum                                                       
RAND MERCHANT BANK                                                              
A division of FirstRand Bank Limited                                            
Attorneys to Momentum                                                           
Hofmeyr Herbstein & Gihwala Inc.                                                
Registration number 1997/001523/21                                              
Date: 28/11/2005 12:18:18 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department