Purchase of Own Securities

RNS Number:1753Z
Genbel South Africa Ld
20 February 2001

                         GENBEL SOUTH AFRICA LIMITED

                     (Registration number 1949/032379/06)

                               ("the Company")

        ______________________________________________________________


                   Repurchase of shares on the open market

        ______________________________________________________________




Further to the announcement dated 23 November 2000, the Company has now
repurchased 1,530,900 (3,1%) of its own shares on the open market, acting on
the general authority renewed by shareholders at the annual general meeting
held on 12 October 2000 ('the general authority') and subsequently amended on
15 February 2001.


In accordance with the Listings Requirements of the JSE Securities Exchange
South Africa, the Company discloses the following :


Repurchases of shares

___________________________________________________________________

Total number of shares purchased
(since the commencement of the        7,960,343 16,1% of the Company's share
share repurchase programme on                   capital in issue on the
14 February 2000)                               date of renewal of the general  
                                                authority


Number of shares purchased by the     1,510,900 3,1% of the Company's share
Company since 23 November 2000, which           capital
are to be cancelled

Number of shares purchased through       20,000 0,04% of the Company's share
the Company's subsidiary, Gensa Trading           capital
Limited since 23 November 2000

Total value of shares purchased     R24,890,070
since 23 November 2000

Highest price paid since 23 November      1770 cents
2000                                    

Lowest price paid since 23 November       1600 cents
2000                                    

Period of repurchases                     23 November 2000 - 16 February 2001

Number of shares which may still be   5,310,125 10,7% of the Company's share
repurchased by the Group in terms of            capital in issue on the date of
the current general authority                   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 interim financial statements for the six months ended
31 December 2000, and assuming that the shares had been repurchased on 1 July
2000, 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                38                    46                21,0%

Headline Earnings

Net asset value          2069                   2126                 2.8%

___________________________________________________________________


Notes:


 1. On 30 November 2000, 1,417,200 shares repurchased by the Company were
    cancelled and de-listed from the JSE. The remaining 93,700 shares
    repurchased by the Company will be cancelled and de-listed with immediate
    effect. After the cancellations, the issued share capital of the Company
    will be 46,160,575 ordinary shares.


 2. The shares that were repurchased by the Company's wholly-owned subsidiary,
    Gensa Trading Limited, will not be cancelled as part of the issued share
    capital of the Company but will be retained.


 3. The earnings and headline earnings per share after the repurchases are
    based on the Company's issued share capital less shares repurchased.




EH Verbeek Johannesburg

Company Secretary 20 February 2001


UK Secretaries

Project Consultants Limited

Walnut House

Walnut Gardens

Claydon

Banbury

Oxon OX17 1NA

     ___________________________________________________________________


                                Investment Bank :          Sponsor :
                                     Sponsoring

                                        Broker in Namibia


LOGO : Gensec Bank Limited     LOGO :JP Morgan          LOGO:HerbertMaier

Registration No 1996/004744/06 Member of the Namibian Stock


                                              Exchange

                                              Trading as JP Morgan
Arkle 2060 (LSE:10FY)
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