ABSA GROUP LIMITED: CREDIT EXPOSURE
Absa Group Limited: ZAE000013389
ISIN: : ZAE000013389
Share code: ASA
News reports to the effect that certain of South Africa`s banks collectively
have a major credit exposure that could result in write-offs have come to our
attention.
The Absa Group is prudent in its bad debt provisioning and can give assurances
that it is not exposed to any known single bad debt that is not adequately
provided or covered by security. Consequently, the Group is satisfied that its
financial performance for the 2002/2003 financial year will be in line with
guidance given to the market.
Issued by Willie Roux
Investor Relations
Absa Group Limited
27 11 350-4061 (phone)
e-mail: willier@absa.co.za
Inquiries: Frans du Toit
Group executive director
2711 350-4211.
Date: 24/02/2003 12:05:27 PM Supplied by www.sharenet.co.za
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