GSA Genbel S.A.

RNS Number:9074Z
Genbel South Africa Ld
13 August 2002


                          GENBEL SOUTH AFRICA LIMITED

                 (Incorporated in the Republic of South Africa)

                      (Registration number 1949/032379/06)
                     Share code: GBL    ISIN: ZAE 00010054

                                   ("Genbel")


          Results of scheme meeting and remaining conditions precedent


Further to the announcement dated 11 August 2002, the Genbel board of directors
wishes to announce that the scheme of arrangement proposed by Genbel Securities
Limited in terms of Section 311 of the Companies Act No. 61 of 1973 (as amended)
between Genbel and its shareholders ("the scheme"), has been approved by the
requisite majority of scheme members at the scheme meeting held on 13 August
2002.

Application will be made to the High Court of South Africa (Witwatersrand Local
Division) ("the Court") for sanction of the scheme at 10:00 or as soon
thereafter as Counsel may be heard on Tuesday, 20 August 2002. If the scheme is
sanctioned by the Court, the only remaining condition precedent for
implementation of the scheme will be the registration of the Order of Court
sanctioning the scheme by the Registrar of Companies. The scheme will not become
operative until such time as the Order of Court has been registered with the
Registrar.


A further announcement regarding the outcome of the application to Court will be
published on or about Friday, 23 August 2002.

Johannesburg

13 August 2002




Corporate adviser to Gensec

GENSECBANK

Gensec Bank Limited

(Registration number 1996/004744/06)


Merchant bank to Genbel and transactional sponsor

Rand Merchant Bank

A division of FirstRand Bank Limited

Corporate Finance


Sponsoring broker in Namibia

Hendrik Lombard trading as

SIMONISSTORM Securities

Member of the Namibian Stock Exchange


Corporate law advisers to Gensec

Hofmeyr Attorneys

Hofmeyr Herbstein & Gihwala Inc.

(Registration number 1997/001523/21)


Corporate law advisers and consultants to Genbel

Edward Nathan & Friedland

Corporate Law Advisors & Consultants

Competition lawyers to Genbel and Gensec

Webber Wentzel Bowens



                      This information is provided by RNS
            The company news service from the London Stock Exchange

END

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