/ 24 August 1999

LIBLIFE REAVEALS UNBUNDLING

LIBERTY Life on Thursday unveiled its plans to unbundle its stake in Standard Bank Investment Corp (Stanbic) worth R6,25-billion ($1-billion), another step in a drive to focus on core business. Liberty said it plans to distribute to shareholders next month its 27,4% interest in Stanbic as it hones its operations around financial services and simplifies its complex group structure.Investors applauded the unbundling move, lifting the share price of Liberty, which has been punished for being too much of an investment trust and not enough of a life company.