RANK     STOCK EXCHANGE     N0. OF COMPANIES LISTED

1.       Nasdaq             5,521
2.       London             2,981
3.       New York           2,555
4.       Germany            2,299
5.       Tokyo              1,850
6.       Toronto            1,379
7.       Australian         1,197
8.       Paris                867
9.       Korea                769
9.       American             754
11.      Kuala Lumpur         668
12       Tel-Aviv             654
13       Hong Kong            622
14.      JOHANNESBURG         590
15.      Rio De Janeiro       578
16.      Sao Paulo            553
17.      Thailand             455
18.      Switzerland          436
19.      Taiwan               393
20.      Madrid               379

*The following exchanges have been excluded, due to double listings:

Osaka
Montreal
Vancouver
Barcelona

*The ranking of the JSE has been effected by the inclusion of the 
following Stock Exchanges in to the FIBV statistics.

*Athens
*Phillipines
*Lima
*Irish
*Lisbon

#Statistics not available for August 1997, July 1997 statistics have been used.

Please note the turnover figures for 1996 in respect of value and deals have been revised.

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 - or enter text search 'Johannesburg Stock Exchange' and 'Business Monitor'.