11. Ranking of Top 20 International Stock Exchanges by Market Capitalisation as at 31 October 1997(US$ millions)


RANK     STOCK EXCHANGE     MARKET CAP

1.       New York           8,430,795.6
2.       Tokyo              2,539,872.8
3.       London             2,125,771.4
4.       Chicago #          2,015,920.0
5.       Nasdaq  #          1,753,000.3
6.       Germany              788,022.9
7.       Paris                643,848.9
8.       Toronto              578,339.6
9.       Switzerland          535,868.6
10.      Amsterdam            462,703.7
11.      Hong Kong            422,970.7
12.      Italy                312,129.4
13.      Australian           290,074.7
14.      Madrid               274,628.7
15.      Stockholm            265,970.5
16.      Taiwan               260,742.2
17.      Sao Paulo            245,579.5
18.      JOHANNESBURG         243,497.9
19.      Rio de Janeiro       243,253.8
20.      Bilbao               209,751.0
# Statistics not available for October 1997, September 1997 figures have been used.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

For further information contact Ailsa Thorpe at the Johannesburg Stock Exchange - Tel: +27 11 377 2306, Fax: +27 11 834 7402, Web:http://www.jse.co.za