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RNS Number:6724B
Genbel South Africa Ld
5 April 2001


                          GENBEL SOUTH AFRICA LIMITED
(Incorporated in the Republic of South Africa) (Registration number 1949/032379
                                     /06)
                                  ("Genbel")
          ANNOUNCEMENT REGARDING POTENTIAL RESTRUCTURING INITIATIVES

Genbel shareholders are advised that the Board of Directors of Genbel ("the
Board") has appointed Mr Johan van Reenen, Gensec Bank Limited, Rand Merchant
Bank and Edward Nathan & Friedland (Proprietary) Limited (collectively "the
advisers") to investigate and evaluate various potential restructuring
initiatives for Genbel.

The objectives of the potential restructuring initiatives are to address:


  * the impact of the proposed introduction of Capital Gains Tax ("CGT") in
    October 2001, which in terms of the current draft legislation, will have
    the effect of creating a double CGT liability for Genbel shareholders; and

  * the discount at which Genbel shares currently trade on the open market
    to its underlying net asset value.

The Board will communicate with Genbel shareholders after due consideration
has been given to the alternatives potential restructuring initiatives
presented. This is not expected to be later than at the time of the Genbel
preliminary results for the year ending 30 June 2001.



E H Verbeek      Johannesburg

Company Secretary     5 April 2001



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