The Directors announce the Group results
for the year ended 31 December 2002.


Condensed statement of changes in equity

   
2002 
2001 
R'000 
R'000 

       
Balance at beginning of year   1 013 513  936 181 
Revaluation of investments   (55 527) 9 769 
Translation of foreign subsidiaries   (13 215) 10 517 
Net income for the year   115 136  142 303 
Dividends   (85 257) (85 257)
   

Balance at end of year   974 650  1 013 513