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New appointment to Alexander Forbes board of directors

Alexander Forbes is pleased to announce that Mr C. Pieter van Niekerk has been appointed as a non-executive Director to the Board of Alexander Forbes Limited. He joins the Board effective 16 August 2002.

Admitted as an attorney in 1981, Mr van Niekerk is currently a senior director of Routledges Incorporated (trading as Routledge-Modise attorneys). Routledges is a member of Meritas, which is the world`s largest affiliation of independent law firms with more than 250 member offices worldwide.

For further information please contact:

Paul Heinamann, Chairman

Alexander Forbes Limited +27 (0) 832003030

Graeme Kerrigan, Group Chief Executive

Alexander Forbes Limited +2711 2690636

Debbie Kotzen, Investor Relations

Alexander Forbes +2711 2690024

About Alexander Forbes

Alexander Forbes is a leading international group listed on the JSE Securities Exchanges South Africa. It is the 8th largest independent provider of financial and risk services worldwide (source: Business Insurance, 22 July 2002).

Financial services activities include: retirement fund administration; employee benefit consulting; software development; actuarial and other related services; personal financial planning; direct mass marketing of financial products; niche life and disability insurance facilities and multi-manager investment products.

Risk services activities include: corporate insurance broking; reinsurance broking; risk management and risk finance consulting; cell captive and niche general insurance facilities; claims management services; specialist aviation, marine, professional indemnity, political and credit risk and transportation risk services; and insurance products and services for the individual.

Over 5 000 personnel, based in over 30 countries in Africa, Asia, Latin America and Europe, deliver services to small, medium and large organisations and to individual clients. Alexander Forbes`s focus is on fast, efficient service by empowered people in every country where it operates.

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