Recent events pertaining to Saambou Bank Limited ("SAAMBOU") have led to a situation where SAAMBOU will evidently be unable to repay deposits made with it or will probably be unable to meet all of its obligations when legally obliged to do so. An abnormal outflow of funds out of the bank has also resulted in SAAMBOU experiencing difficulties in maintaining its required levels of liquidity. However, based upon information rendered in terms of the provisions of the Banks Act, 1990 (Act No. 94 of 1990 - "the ACT"), this Office has no reason to believe that SAAMBOU is insolvent. Consequently, the Minister of Finance has deemed it desirable, in the public interest, with the written consent of the chairperson of SAAMBOU, in terms of section 69 of the ACT, with effect from 13.00 on 9 February 2002, to appoint a curator to SAAMBOU. The head office of SAAMBOU is situated at SAAMBOU Park, Alkantrand Road, Lynwood Manor X2, 0081, Pretoria. An important reason for the appointment of the curator to SAAMBOU is to facilitate the orderly management of the bank, including the management of the bank’ s liquidity situation, having regard to SAAMBOU’s liquidity problems.Upon an appointment of this nature, the management of SAAMBOU vests in the curator, subject to the supervision of the Registrar of Banks, and any other person vested with the management of the affairs of SAAMBOU shall be divested thereof. The curator is also required to recover and take possession of all the assets of SAAMBOU. Furthermore, the Registrar of Banks is obliged to ensure that all clearing and settlement obligations of SAAMBOU will continue to be met by the curator.The designated curator of SAAMBOU is Mr TJ Louw of KPMG, Chartered Accountants (SA), at Private Bag X9, PARKVIEW, 2122.  CF WIESEREGISTRAR OF BANKS  ​