Purchase of Own Securities

RNS Number:1541R
Genbel South Africa Ld
19 September 2000

GENBEL SOUTH AFRICA LIMITED
(Registration number 1949/032379/06)
("the Company")

Repurchase of shares on the open market

Further to the announcement dated 20 April 2000, the Company has now purchased
3,036,664 (6,3%) of its own shares on the open market through its wholly-owned
subsidiary Gensa Trading Limited, acting on the general authority granted by
shareholders at the annual general meeting held on 14 October 1999 ('the
general authority').

In accordance with the Listings Requirements of the Johannesburg Stock
Exchange, the Company discloses the following:

Repurchases of shares
Total number of shares purchased:  3,036,664    6,3% of the Company's
                                                share capital in issue
                                                on the date of granting
                                                of the general authority
Total value of shares purchased    R60 360 766
Highest price paid                 1909 cents
Lowest price paid                  1639 cents        
Period of repurchases              20 April 2000 - 18 September 2000

Number of shares which may still 
be repurchased by the Company in 
terms of the general authority     1,811,999    3,7% of the Company's share   
                                                capital in issue on the date  
                                                of granting of the general    
                                                authority

Funds generated in the ordinary course of business were used to fund the share
repurchases.

Directors' statement

The directors have considered the effect of the repurchases and are of the
opinion that:
1. the ability of the Company and its subsidiaries to continue to pay their
debt in the ordinary course of business will not be affected by the
repurchases for the period of 12 months after the date of this announcement;
2. the assets of the Company and its subsidiaries exceed their liabilities,
measured in accordance with the accounting policies used in the Company's
annual financial statements for the year ended 30 June 2000;
3. the ordinary capital and reserves of the Company are adequate for the
Company's requirements for the period of twelve months from the date of this
announcement; and
4. the working capital of the Company is adequate for the Company's
requirements for the period of twelve months from the date of this
announcement.

Financial effects of the repurchase

Based on the Company's financial statements for the year ended 30 June 2000,
and assuming that the shares had been repurchased on 1 July 1999, the effect
on the earnings, headline earnings and net asset value per share would have
been as follows:
(cents per share)        Before the         After the 
                         repurchases        repurchases         % Change
Earnings and                 80                 84                  5%
Headline Earnings
Net asset value             2 197              2 224               1,2%

Notes:
1. The shares repurchased will not be cancelled as part of the issued share
capital of the Company but will be retained by the wholly-owned subsidiary of
the Company, Gensa Trading Limited.

2. The earnings and headline earnings per share after the repurchases are
based on the Company's issued share capital less shares repurchased but not
cancelled.

By order of the board
EH Verbeek
Company Secretary
Johannesburg
19 September 2000

Investment Bank:
Gensec Bank Limited
Registration No 1996/004744/06

Sponsoring brokers in Namibia
Herbert Maier
Member of the Namibian Stock Exchange
Trading as Fleming Martin Securities Ltd

Sponsoring Broker:
Fleming Martin Securities Ltd
Registration Number: 1995/011815/06
Member of the Johannesburg Stock Exchange.

London Secretaries
Project Consultants Limited
Walnut House, Walnut Gardens
Claydon, Banbury
Oxon OX17 1NA