Capitalisation Award

RNS Number: 8174R
Genbel South Africa Ld
29 Sep 2000

Genbel South Africa Limited

(Incorporated in the Republic of South Africa) (Registration number 1949/
032379/06)

("the company")

Results of the capitalisation share award

The offer to receive a final cash dividend in lieu of a capitalisation share
award made to shareholders registered on Friday, 25 August 2000 ("the record
date") closed at 12:00 on Friday, 22 September 2000. Elections to receive the
cash dividend of 70 cents per share were made in respect of 21 588 058
ordinary shares resulting in the payment of a total ordinary dividend of R15
157 489.96 (which includes a cash payment of R45 849.36 in lieu of fractional
entitlements to new ordinary shares arising out of the capitalisation share
award).

Based on the weighted average closing price of the company's ordinary shares
on the Johannesburg Stock Exchange ("the JSE") for the four business days
ended Thursday, 14 September 2000 of 1900 cents, the capitalisation share
award has been determined at a ratio of 4.089314 new ordinary shares for every
100 ordinary shares held at the record date. 1 097 550 new ordinary shares are
to be issued and listed on the JSE, London Stock Exchange, Brussels Stock
Exchange and the Namibian Stock Exchange (in International Depository Receipt
form in the case of the Brussels Stock Exchange) with effect from commencement
of business on Tuesday, 3 October 2000.

Share certificates in respect of the new capitalisation shares and cheques in
respect of the dividend/fractional entitlements will be dispatched to
shareholders on Tuesday, 3 October 2000.

EH Verbeek

Company Secretary          2 October 2000

Investment bank

GENSEC

Gensec Bank Limited

(Registration number 1996/004744/06)

Sponsoring broker

CHASE

Sponsoring broker in Namibia

HERBERT MAIER

Member of the Namibian Stock Exchange

Trading as Chase

London Secretaries:

Project Consultants Limited

Walnut House

Walnut Gardens

Claydon, Banbury

Oxon. OX17 1NA