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Absa Group Limited
The  directors  of Afribrand Holdings Limited, the holding  company  of  the
Afribrand group, have applied to place the company into liquidation.
Absa  has  an  exposure  of R32,2 million to certain wholly-owned  operating
subsidiaries  of  Afribrand Holdings Limited. Absa's exposure  is  partially
secured and adequately provided.
25 January 2002
Trevor Murgatroyd
Head: Workout and Recovery
Issued by:    Willie Roux
              Group Consultant: Investor Relations
              Absa Group Limited
              Tel: 011 350-4061
Inquiries:    Johan Geldenhuys
              Deputy Managing Executive
              Absa Corporate and Merchant Bank
              Tel: 011 350-3041

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