Firstrand/saambou - Information For Saambou Deposi
FirstRand Limited Saambou Bank Limited
(Incorporated in the Republic (Under curatorship)
of South Africa) (Registration number
(Registration number 1987/005437/06)
66/10753/06)
Information for Saambou depositors
The board of directors of FirstRand Limited ("FirstRand") and the Curator of
Saambou Bank Limited ("Saambou") are pleased to announce that they are in
the process of negotiating the terms of a transaction with the South African
Reserve Bank and National Treasury. The Minister of Finance has today
agreed in principle to such a transaction, subject to appropriate agreements
being finalised.
The successful conclusion of the transaction will result in all Saambou
depositors gaining full access to their available funds, including accrued
interest.
A detailed announcement in this regard will be made in due course.
Sandton
3 May 2002
Merchant bank and sponsor to Curator to Saambou
FIrstRand John Louw
Rand Merchant Bank KPMG
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