Attention: The News Editor                  

Media Release: 25 September 2001

In a press release by the Insider Trading Directorate on 28 August 2001 it was reported that an insider trading investigation into certain transactions in the shares of Spicer Holdings Limited would be referred for legal action.

The Directorate now reports that, as is provided for in the Insider Trading Act, a settlement has been reached with Mr J W du Toit, the previous Chief Executive Officer of Spicer Holdings Limited, who has agreed to pay an amount of R4,2 million to the Directorate.  This settlement was made an order of the High Court on 25 September 2001. The settlement relates to share transactions conducted in the name of the Ithaka Trust and the Marel Trust.  These transactions were executed at the initiative of Mr J W du Toit.  The settlement is entered into on the basis that Mr J W du Toit admits liability, without admission of wrongdoing.

The FSB will in due course publish advertisements inviting claims from persons that sold shares in Spicer Holdings Limited on 17 December 1999, 7 February 2000, 8 February 2000 and the morning of 9 February 2000.

 -Ends- 

Enquiries:
Mr Rob Barrow
Chairperson: Insider Trading Directorate
Tel:      012 428-8108 

Address:
Financial Services Board
P O Box 35655
Menlo Park 0102

Office hours: 7:45 - 16:30
25 September 2001, Pretoria