Purchase of Own Securities

RNS Number:9219T
Genbel South Africa Ld
10 November 2000

                         GENBEL SOUTH AFRICA LIMITED
               (Incorporated in the Republic of South Africa)

                     (Registration number 1949/032379/06)

                               ("the Company")

                   Repurchase of shares on the open market

Further to the announcement dated 19 September 2000, the Company has now
purchased 4, 477,543 (9%) of its own shares on the open market through its
wholly-owned subsidiary Gensa Trading Limited, acting on the general authority
renewed by shareholders at the annual general meeting held on 12 October 2000
("the general authority").

In accordance with the Listings Requirements of the Johannesburg Stock
Exchange, the Company discloses the following:

Repurchases of shares

Total number of shares purchased (since the  4,477,543   9% of the Company's
commencement of the share repurchase                     share capital in issue
programme on 14 February 2000)                           on the date of renewal
                                                         of the general         
                                                        authority

Total value of                          R83,006,319
shares purchased

Highest price paid                      1803 cents

Lowest price paid                       1542 cents

Period of repurchases                   19 September 2000 - 9 November 2000

Number of shares which may still be     3,924,719       8% of the Company's    
repurchased by the Group in terms of                    share capital
the general authority                                   in issue on the date of 
                                                       renewal of the general   
                                                      authority

Funds generated in the ordinary course of business were used to fund the share
repurchases.

Directors' statement

The directors have considered the effect of the repurchases and are of the
opinion that:

 1. the ability of the Company and its subsidiaries to continue to pay their
    debt in the ordinary course of business will not be affected by the
    repurchases for the period of twelve months after the date of this
    announcement;
 2. the assets of the Company and its subsidiaries will exceed their
    liabilities, measured in accordance with the accounting policies used in
    the Company's annual financial statements for the year ending 30 June
    2001;
 3. the ordinary capital and reserves of the Company are adequate for the
    Company's requirements for the period of twelve months from the date of
    this announcement; and
 4. the working capital of the Company is adequate for the Company's
    requirements for the period of twelve months from the date of this
    announcement.

Financial effects of the repurchase

Based on the Company's financial statements for the year ended 30 June 2000,
and assuming that the shares had been repurchased on 1 July 1999, the effect
on the earnings, headline earnings and net asset value per share would have
been as follows:

(Cents per share)  Before the repurchases      After the repurchases   % Change

Earnings and                79                        87                   10.1
headline earnings

Net asset value            2188                      2222                   1.6

Notes:

 1. The shares repurchased will not be cancelled as part of the issued share
    capital of the Company but will be retained by the wholly owned subsidiary
    of the Company, Gensa Trading Limited.

 2. The earnings and headline earnings per share after the repurchases are
    based on the Company's issued share capital less shares repurchased but
    not cancelled.

EH Verbeek    Johannesburg
Company Secretary  10 November 2000


Investment bank          Sponsor                      Sponsor in Namibia

Gensec Bank Limited      Chase                        HerbertMaier, trading as
(Registration number                                  Chase
1996/004744/06)          Member of the Johannesburg
                         Stock Exchange               Member of the Namibian
                                                      Stock Exchange
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