Major Insurer
INSURANCE OUTSOURCING MANAGERS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 98/13121/06)
("INSURE" or "the company")
Share code: INS ISIN code: ZAE 000033221
OUTSOURCE CONTRACT WITH MAJOR INSURER
Following the cautionary announcements in the press on 14 July and 31 August
2001, the directors are pleased to announce the appointment of Insure to
handle the Annual-Paid-Monthly business of a major Insurer.
The contract, which commences in November, will more than double the
existing premium financing activities of Insure. The necessary upfront
infrastructure and personnel have been put in place, affecting Insure's 2002
results negatively. The full financial benefit of the appointment will show
its effect in the financial year ending 28 February 2003.
Corporate advisers Sponsor
Radagast Capital Fusion Capital LPC Manhattan
(Proprietary) Limited
Limited
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