The board of directors of FirstRand Limited ("FirstRand") and the Curator of Saambou Bank Limited ("Saambou") are pleased to announce that they are in the process of negotiating the terms of a transaction with the South African Reserve Bank and National Treasury. The Minister of Finance has today agreed in principle to such a transaction, subject to appropriate agreements being finalised.  The successful conclusion of the transaction will result in all Saambou depositors gaining full access to their available funds, including accrued interest. A detailed announcement in this regard will be made in due course. John LouwCurator: Saambou(012) 421-5058 Viv BartlettDeputy CEO: Firstrand Banking Group082-4900-672