Firstrand - RMB and Morgan Stanley Announce International Debt Distribution

     Firstrand - RMB and Morgan Stanley Announce International Debt Distribution
                 Cooperation Agreement                                          
     FIRSTRAND LIMITED                                                          
(Incorporated in the Republic of South Africa)                             
     (Registration number: 1966/010753/06)                                      
     ISIN: ZAE000066304                                                         
     Share Code: FSR                                                            
RAND MERCHANT BANK AND MORGAN STANLEY ANNOUNCE INTERNATIONAL DEBT          
     DISTRIBUTION COOPERATION AGREEMENT                                         
     Johannesburg, 13 September 2006. Rand Merchant Bank, a division of         
     FirstRand Bank Limited ("RMB"), and Morgan Stanley have entered into an    
agreement to provide comprehensive offshore financing services jointly to  
     South African entities.                                                    
     Specifically, RMB and Morgan Stanley will work together in relation to     
     global investment-grade and non-investment-grade bonds and securitisation  
offerings of local assets for their South African corporate clients.  These
     services will complement the local financing services that RMB and Morgan  
     Stanley already offer separately to South African entities.                
     The agreement provides a framework to combine Morgan Stanley"s extensive   
global distribution platform and global debt capital markets expertise with
     RMB"s pre-eminent standing in the South African corporate community.       
     This initiative comes shortly after the formal launch of RMB Morgan        
     Stanley, an equity distribution, sales and trading and research joint      
venture between the two investment banks.                                  
     "RMB and Morgan Stanley have complementary strengths which are being       
     combined to offer a broader, more competitive service to the South African 
     market," says Beth Mandel, Managing Director and Head of Morgan Stanley    
South Africa (Pty) Ltd.                                                    
     RMB CEO Michael Pfaff says: "Morgan Stanley has the distribution channels  
     into the global capital markets and we have strong relationships with SA   
     corporates. Put these together and you allow SA corporates easier access to
international capital markets."                                            
     Sandton                                                                    
     13 September 2006                                                          
     Sponsor                                                                    
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                  
Date: 14/09/2006 07:00:06 AM Supplied by www.sharenet.co.za                     
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