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Alexander Forbes Disposes Of Its 20% Shareholding In National Britannia Group   
Alexander Forbes Limited                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 1958/001974/06)                                            
Sharecode: AFB    ISIN code: ZAE 000018230                                      
ALEXANDER FORBES DISPOSES OF ITS 20% SHAREHOLDING IN NATIONAL BRITANNIA GROUP IN
THE UNITED KINGDOM                                                              
Alexander Forbes Limited has disposed of its 20% shareholding in National       
Britannia in the United Kingdom for GBP5m.  The company has been sold to its    
senior management team and West Private Equity for GBP25 million.                 
9 March 2005                                                                    
Joint Sponsor                                                                   
JP Morgan

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