South Africa: Annualised JSE Liquidity* - 30 April 1998

                        Month          Month       % Change     Year
                        Ended          Ended       Apr 1997-    to
                        Apr 1998       Apr 1997    Apr 1998     Date

Liquidity               24.8%          17.3%       43.4%        22.7%

                        1997           1996        1995

Liquidity               16.9%          10.9%       7.0%

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

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