Genbel South Africa - Purchase of Own Securities

RNS Number:4855J
Genbel South Africa Ld
20 April 2000


GENBEL  SOUTH  AFRICA  LIMITED
(Registration number 1949/032379/06)
('the company')
______________________________________________________________
Repurchase of shares on the open market
______________________________________________________________


The company has repurchased 1 455 600 (3%) of its own shares on the open
market through its wholly owned subsidiary Gensa Trading Limited, acting on
the general authority granted by shareholders at the annual general meeting
held on 14 October 1999 ('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 :    1 455 600       3% of the company's
share capital in issue on the date of granting of the general authority

Total value of shares purchases       R31 462 483       
Highest price paid                    2 319 cents       
Lowest price paid                     1 680 cents       
Period of repurchases                 14 February 2000 to 19 April 2000
Number of shares which may still be repurchased by the company in terms of the
general authority                     3 393 063       7% of the company's
share capital in issue on the date of granting 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 12 months after the date of this announcement;

2.       the assets of the company and its subsidiaries exceed their
liabilities, measured in accordance with the accounting policies used in the
company's interim financial statements for the six months ended 31 December
1999 ;

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 for the repurchase

Based on the company's interim financial statements for the six months ended
31 December 1999, 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
___________________________________________________________________

Earnings and                      35                            36
Headline Earnings

Net asset value                 2 649                         2 660
___________________________________________________________________

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.




Johannesburg
20 April 2000




___________________________________________________________________

Investments Bank :               Sponsoring Brokers :

Gensec Bank Limited              Flemming Martin Securities Ltd
Registration No 1966/004744/06   Registration Number : 1995/011815/06
                                 Member of the Johannesburg Stock Exchange.


END
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