Johannesburg Stock Exchange New Listings Requirements Announcement

The JSE is announcing New Listings Requirements. In essence this means: Compliance with international best practice; Improvement of company reporting practices through the adoption of the Statements of GAAP; An improvement of international confidence in the South African market; An enhancement of the status of a JSE listing; Increased disclosure for shareholders and potential investors on which to base investment decisions; From October 2002, regulatory announcements published on SENS and not in newspapers.

Russell Loubser, executive president of the Johannesburg Stock Exchange comments: "The Johannesburg Stock Exchange is moving towards alignment with international best practice. These important changes are intended to improve international sentiment and greater disclosure, both of which are aimed at improving foreign investor confidence in the South African market."