7. Annualised JSE Liquidity *


                  Month       Month      % Change   Year to date
                  ended       ended      Dec 96
                  Dec 97      Dec 96     to Dec 97

Liquidity %       17.8        16.6        +7.2        17.0


Liquidity %       1996        1995       1994

                  10.9        7.0        7.5


* 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