96IN Hsbc Bk 27

RNS No 8341a
TOLUX S.A.
3rd July 1998


                       TOLUX S.A. ("TOLUX")
       ACQUISITION OF CERTAIN FINANCIAL SERVICES OPERATIONS
               ISSUANCE OF 89 555 491 NEW ORDINARY SHARES
                NOTICE OF EXTRAORDINARY GENERAL MEETING

Tolux announces today that it has entered into agreement to acquire certain
merchant banking, investment, private equity, fund management and advisory
business operations, as per the announcement of intention made on 20 May 1998.
These businesses comprise 100 per cent. of the issued share capital in and the
benefit of certain loans owned by Capital Alliance Bank Limited, Capital
Alliance Asset Managers (Proprietary) Limited, Capital Alliance Management
Company Limited, Capital Partners Group Holdings Limited and Capital Partners
Limited as well as 55 per cent. of the issued share capital of Decimax
(Proprietary Limited) and 50 per cent. of the issued share capital in African
Alliance Limited (together, the "Brait Businesses").

The total consideration of US$619.7 million is being satisfied through the
issuance of 89 551 491 new ordinary Tolux shares ("the New Shares") at a price
of US$6.92 per New Share, based on the net asset value per Tolux ordinary share
as at 31 March 1998.

A circular, setting out information regarding the Brait Businesses and
containing the notice of an Extraordinary General Meeting of Tolux shareholders
to be held at 11.30 am on 29 July 1998 at Tolux's registered office in
Luxembourg, 69 route d'Esch, 1-1470, is available at the same address for UK
shareholders today.  The circular is also available from the offices of the UK
registrars, IRG plc, 34 Beckenham Road, Beckenham, Kent, BR3 4TU.

A further document, comprising Listing Particulars, in order for the New Shares
to be admitted to the Official List of the London Stock Exchange Limited, will
be published in due course, but in any event no later than 3 August 1998.

It is anticipated that if Tolux's shareholders approve the acquisition of the
Brait Businesses and certain further conditions are satisfied (including
admission of the New Shares to the Official List of the London Stock Exchange
Limited), Tolux will be renamed Brait S.A.

END

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