7. Annualised JSE Liquidity *


                  Month       Month      % Change   Year to date
                  ended       ended      Jan 97
                  Jan 98      Jan 97     to Jan 98

Liquidity %       19.7        12.4        +58.9        19.7


Liquidity %       1997        1996       1995

                  16.9        10.9        7.0


* Liquidity calculated on a daily basis and not as at month end



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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