Purchase of Own Securities

RNS Number:5325A
Genbel South Africa Ld
15 March 2001

                                    GENBEL

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

                               ("the Company")

Repurchase of shares on the open market

Further to the announcement dated 19 February 2001, the Company has now
repurchased 1 458 500 (3,0%) of its own shares on the open market, acting on
the general authority renewed by shareholders at the annual general meeting
held on 12 October 2000 ('the general authority'), and subsequently amended on
15 February 2001.

In accordance with the Listings Requirements of the JSE Securities Exchange
South Africa, the Company discloses the following:

  Total number of shares       9 418 841               19,4% of the Company's 
  purchased (since the                                 share capital in issue 
  commencement of the share                            on the date of renewal 
  repurchase programme on 14                           of the general         
  February 2000)                                       authority              

  Number of shares purchased   1 458 500               3,0% of the Company's 
  by the Company since 19                              share capital          
  February 2001, which are                                                    
  to be cancelled                                                             

  Total value of shares        R23 976 600                                    
  purchased since 19                                                          
  February 2001                                                               

  Highest price paid since     1 760 cents                                    
  19 February 2001                                                            

  Lowest price paid since 19   1 615 cents                                    
  February 2001                                                               

  Period of repurchases        19 February 2001 - 14 March 2001               
  
  Number of shares which may   3 851 627               7,9% of the Company's  
  still be repurchased by                              share capital in issue 
  the Group in terms of the                            on the date of renewal 
  current general authority                            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 twelve months after the date of this
announcement;

2. the assets of the Company and its subsidiaries will exceed their
liabilities, measured in accordance with the accounting policies used in the
Company's annual financial statements for the year ending 30 June 2001;

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 interim financial statements for the six months ended
31 December 2000, and assuming that the shares had been repurchased on 1 July
2000, 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 headline        38                    47                   23,7
earnings
Net asset value              2 069                 2 146                3,7

Notes:

1. The 1 458 500 shares repurchased by the Company will be cancelled and
de-listed with immediate effect. After the cancellations, the issued share
capital of the Company will be 44 702 075 ordinary shares.

2. The earnings and headline earnings per share after the repurchases are
based on the Company's issued share capital less shares repurchased.

EH Verbeek            Johannesburg

Company Secretary           15 March 2001



Investment bank and sponsor

GENSEC

Gensec Bank Limited

(Registration number 1996/004744/06)

Sponsoring broker in Namibia

Member of the Namibian Stock Exchange

Trading as JPMorgan

London Secretaries

Project Consultants Limited

Walnut House

Walnut Gardens

Claydon

Banbury

Oxon

OX17 1NA