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ISSUE NO 54 ON THE MONEY

M-WEB FEELS THE HEAT AS ABSA SUBS CONTINUE TO CLIMB

ICL, the South African business solutions company providing the infrastructure for Absa’s free internet offering, announced that the number of subscribers for the service has now reached 136,621.(source: http://www.boot.co.za/news/apr01/absa4.htm )

In response to this news, M-Web’s parent company Naspers is seeking to delist the company and is continuing to "restructure". Translation, cutting costs wherever it can.

Local e-tailer Kalahari.net has just bought M-Web’s online IT product retail venture JellyBean Interactive Pty Ltd. Both parties describe the move as meeting their business objectives.

(source: Boot http://www.boot.co.za/news/apr01/jellybean2.htm )

Naspers is considering de-listing M-Web, citing negative market conditions. It is expected that M-Web investors will be offered Naspers shares in a share swap deal. Delisting means that its progress to profit or elsewhere will be much less open to scrutiny but it does protect its future value in what is slumping market.

(source: http://www.itweb.co.za/sections/financial/2001/0104061620.asp)

ESKOM PROFITS JUMP, LOOKS TO DIVERSIFY INTO ICT MARKETS

State-owned power utility Eskom unveiled a 51% jump in 2000 pre-tax profits on Thursday, and said that it will diversify into the telecommunications and information technology market.

(source: http://www.woza.co.za/reuters/apr01/eskom6.asp )

JOHNNIC CEO CLAIMS THERE IS LIFE AFTER THE DOT-COM MELTDOWN

The dot-com meltdown has had the positive effect of sweeping a great deal of "rubbish" aside, allowing the serious business to start, says Johnnic e-Ventures CEO Neil Jacobsohn.

(source: http://www.itweb.co.za/sections/financial/2001/0103260630.asp)

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