/ 7 February 1999

MARINE DIAMOND MERGER

SEVERAL major diamond producers — Rembrandt’s Trans Hex, Ocean Diamond Mining Holdings and Benguela Concessions — are about to merge, with the first two likely to buy out Benco. A joint cautionary statement was issued on Thursday. Analysts believe the move is inevitable, given Benco’s current listlessness. ODM would stand to gain not only Benco’s Namaqualand coastal concessions through a merger but also new marine equipment.