PSG GROUP - CAUTIONARY ANNOUNCEMENT
PSG Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1970/008484/06)
Share code : PSG ISIN : ZAE000013017
(`PSG Group` or (`the company`)
CAUTIONARY ANNOUNCEMENT
PSG Capital is authorised to announce that Channel Life Namibia Limited
(`Channel Namibia`) and Metropolitan Life Namibia Limited (`Metropolitan`) have
entered into formal negotiations which, if successful, may result in
Metropolitan acquiring an interest in Channel Namibia.
Channel Namibia is a wholly-owned subsidiary of Channel Life Limited, a company
42% held directly by PSG Group Limited (`PSG Group`) and 38% indirectly together
with black controlled Arch Equity Proprietary Limited.
Both Metropolitan and Channel Namibia are highly successful companies in their
own right, with specific areas of experience in the Namibian life assurance
market. Their respective businesses have a natural fit and by joining forces,
these strengths will be further enhanced, making the combined entity the player
with the largest estimated new business market share in Namibia.
The strong management teams that have led Metropolitan and Channel Namibia to
date will continue to play a key role in bedding down the envisaged alliance,
capitalising on the core competencies of both parties and thereby accelerating
the growth potential of the joint venture.
The proposed transaction may have a material effect on the price of PSG Group
shares. Accordingly, shareholders are advised to exercise caution when dealing
in the company`s shares until a full announcement is made.
Stellenbosch
27 September 2004
Corporate adviser to Channel and joint sponsor to PSG Group.
PSG Capital
(Registration number 2002/017396/06)
Lead Sponsor
PricewaterhouseCoopers Corporate Finance Pty (Ltd)
(Registration number 1970/003711/07)
Date: 27/09/2004 02:11:48 PM Produced by the JSE SENS Department
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