Decision to Invest Offshore

RNS Number:1359T
Genbel South Africa Ld
26 October 2000

Genbel South Africa Limited

(Incorporated in the Republic of South Africa)

(Registration number 1949/032379/06)

("Genbel")

Decision to invest 15% of assets offshore

The board of directors of Genbel is pleased to announce that a decision has
been taken to invest up to a maximum of 15% of Genbel's assets offshore.

Permission to invest offshore has been received from the South African Reserve
Bank and it is intended that Genbel will proceed with diversifying its assets
offshore as soon as possible.

Historically Genbel has positioned itself as a South African investment trust
catering for the diverse needs of shareholders, many of whom were at one stage
non-South African investors seeking a portfolio of South African investments.
In recent years the number of non-South African investors has declined from
approximately 26% of the share register to around 9% which means that most of
Genbel's shareholders are South Africans. With developments in financial
markets, starting with the emerging markets crisis in 1997/98 and the recent
weakness of the Rand, South African investors have been seeking to diversify
their investment and currency risk by broadening their investment horizons to
include investments in other financial markets.

The board believes that South African investors will respond positively to the
decision to invest a portion of the Genbel portfolio in assets offshore that
should contribute to the overall long-term performance of Genbel.

The management of Genbel is urgently examining a number of options regarding
the best way to manage an exposure to the global markets and will inform
shareholders of developments in this regard.

By order of the board

Johannesburg 26 October 2000

 Investment bank
 GENSEC

 Sponsoring broker
 CHASE

 Sponsoring broker in Namibia
 HERBERT MAIER



 London Secretaries for Genbel South Africa Limited:
 Project Consultants Limited
 Walnut House
 Walnut Gardens
 Claydon
 Banbury
 Oxon
 OX17 1NA