RNS No 7240k
BAYERISCHE HYPOTHEKENUND WESCHEL


FROM:     1 JULY 1997

229) ZAR 100,000,000 15.50% NOTES DUE 1/7/98

FULLY PAID
(REPRESENTED BY NOTES TO BEARER OF ZAR 5,000  ZAR 50,000  ZAR 500,000 EACH)

ISSUE PRICE         -         100.77%

ISSUER              -         J.P. MORGAN

A copy of the above is available for inspection from the Company
Announcements office of the Stock Exchange, London.

END