11. Ranking of Top 20 International Stock Exchanges by Market
    Capitalisation as at 30 June 1997(US$ millions)


RANK     STOCK EXCHANGE     MARKET CAP

1.       New York           8,074,854.5
2.       Tokyo              3,215,181.2
3.       London             1,882,869.1
4.       Chicago #          1,849,697.3
5.       Nasdaq             1,560,393.8
6.       Germany              777,999.7
7.       Paris                620,159.0
8.       Hong Kong            551,147.4
9.       Toronto              543,308.7
10.      Switzerland          521,354.9
11.      Amsterdam            452,299.5
12.      Taiwan               335,261.1
13.      Australian           331,438.6
14.      Rio de Janeiro       317,555.6
15.      Italian              290,862.3
16.      Madrid               285,381.8
17.      Kuala Lumpur         282,575.2
18.      JOHANNESBURG         279,673.1
19.      Stockholm            270,467.4
20.      Sao Paulo #          265,570.9


# Statistics not available for May 1997, April 1997 statistics have been used.



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