/ 21 July 1999

WARRANTS ON OLD MUTUAL ISSUED

THE country’s largest issuer of warrants, Standard Bank, on Monday announced the issue of three more warrants to be listed on the Johannesburg Stock Exchange. The new warrants cover Old Mutual PLC, and Theta Group Limited. The bank said that following Old Mutual’s successful listing on the South African market last week, the issue of call and put warrants will allow investors to realise cash through the sale of their shares, but maintain their exposure through the purchase of warrants. The call warrant to be issued on Theta Group Limited is a totally new warrant that allows investors exposure to the fast growing micro lending sector.