Copyright Nigeria.com Tuesday, February 16, 1999

Lonrho Africa to be listed on Nigerian Stock Exchange

LONRHO Africa Plc, the sub-Saharan African conglomerate with interest in
motor vehicles, agric-business, distribution, hotels, properties and
construction has announced plans to get listed on the Nigerian Stock
Exchange.

Mr. Mark Newman, the company's chief executive said a high-powered team had
already been detailed to work on the listing process, which also include
Nairobi Stock Exchange and that of Zimbabwe. Lonrho Africa is currently
quoted on the London and Johannesburg Stock Exchanges.

Giving reasons for seeking listing on the stock exchange of several African
countries, Newman said the company wanted to increase its participation in
the development of Africa's economies by listing its shares on the local
exchange, saying, Africa is where the future economic prosperity is.

"Africa has been undergoing a significant period of economic revival and
our independence now will enable us to do better those things that we have
always done well, and will mean we can focus on Africa more both
operationally and at other levels he said.

The Lonrho Africa Chief Executive disclosed that the company would continue
with its divestiture programme adopted since the demerger, adding that so
far, its five divisions have been reduced to four with the elimination of
properties and construction.

He said the company would also view positively its involvement in
businesses that offer competitive edge through leading market positions and
premium brands and also those that generate hard currency from soft
currency cost base.

Newman disclosed that the company was keen on getting at least a 25 per
cent return on its new investments yearly and 20 per cent from existing
businesses.