SAAMBOU BANK LIMITED
(Registration number 1987/005437/06)
INFORMATION FOR DEPOSITORS:
RELEASE OF PORTION OF INTEREST SPECIAL DISPENSATION
This special one-off dispensation is intended to relieve hardship,
especially amongst pensioners and others dependent on this source of income.
Further to the announcement of 17 February 2002 and having assessed the
current liquidity position, the Curator is now pleased to advise depositors
of the following special dispensation relating to the release of interest:
1. This special dispensation relating to portion of interest is only
applicable to the following qualifying deposits:
* interest that would have been withdrawable on or before 28 February 2002,
had the curatorship not intervened; and
* interest on term deposits which would not have matured by 28 February 2002
on which interest was being released monthly.
2. Interest due and payable on qualifying deposits as at 28 February 2002
will be released from the currently frozen deposits and made available for
withdrawal on 1 March 2002, up to a limit of R15 000 per account. Previous
client instructions to Saambou Bank with regard to the payment of interest
will remain unchanged.
3. Interest accrued but not yet due and payable will not be released for
withdrawal on 1 March 2002.
The Curator is in a process of implementing a disposal process of the
Bank and/or its entire business and further capital and interest releases
will be entirely dependent on the future of the Bank.
Depositors with enquiries are requested to do so by telephone via Saambou
Direct at any one of the following numbers:
0860 139 555 (bilingual)
0860 239 555 (English)
0860 339 555 (Afrikaans)
John Louw
Curator
01 March 2002
K P M G
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