RMH/RMI - RMB Holdings Limited/Rand Merchant Insurance Holdings Limited - Media

RMH/RMI - RMB Holdings Limited/Rand Merchant Insurance Holdings Limited - Media 
Release                                                                         
RMB Holdings Limited                                                            
(Incorporated in the Republic of South Africa)                                  
Registration number 1987/005115/06                                              
Share code: RMH                                                                 
ISIN: ZAE000024501                                                              
("RMBH")                                                                        
Rand Merchant Insurance Holdings Limited                                        
(Incorporated in the Republic of South Africa)                                  
Registration number: 2010/005770/06                                             
Share code: RMI                                                                 
ISIN: ZAE000153102                                                              
("RMI")                                                                         
MEDIA RELEASE                                                                   
"We believe that the Royal Bafokeng are worthy successors in joining us as      
custodians of two of South Africa`s leading financial groups" GT Ferreira -     
Chairman                                                                        
In a transaction facilitated by Remgro, entrepreneurs GT Ferreira, Paul Harris  
and Laurie Dippenaar have signaled the next step along the continuum of a       
generational change at RMBH and RMI, the two financial services groups that they
founded and nurtured over almost four decades.                                  
Royal Bafokeng Holdings ("RBH") - who earlier in the year acquired a 5% stake in
the two groups - will be increasing its interest in both RMBH and RMI to 15%.   
In a transaction valued at some R 4,5 billion, RBH will be acquiring c 9% of    
each group -                                                                    
-    c 5% from the Founders (ie. Ferreira, Harris and Dippenaar); and           
-    c 4% from Remgro.                                                          
This, together with a further c 1% already acquired in the open market for some 
R0,8bn, will bring RBH`s interest up to 15%.                                    
After the transaction Remgro and the Founders remain significant shareholders in
both groups and, in conjunction with RBH, will continue to share in their       
fortunes.                                                                       
(Please see www.rmbh.co.za or www.rminsurance.co.za for shareholder analysis)   
GT Ferreira, chairman of the RMBH and RMI, states that:  "As we scale back our  
active involvement in the businesses, we, the Founders have to face up to two   
main responsibilities - ensuring proper managerial succession, and appropriate  
succession as strategic shareholders."                                          
"Firstly, the performance and market rating of the Group`s underlying franchises
provide an indication that the financial community recognises the quality and   
entrepreneurial ability of the next generation of managers that are in place."  
In the second instance, Ferreira says:  "Given the size and status of the       
underlying franchises, it would have been relatively easy to merely find new