RNS Number:3677Z
NMBZ Holdings Ld
03 June 2004



NMBZ Holdings Limited



Statement To Shareholders



TRADING UPDATE

While the principal business within NMBZ Holdings Limited, NMB Bank Limited
continues to operate in a sound and stable condition, the Trading environment
has been harsh, particularly with regard to funding

costs out of the wholesale market and escalating business costs. These and other
related factors have impacted adversely on the Bank's profitability. The full
impact of this will be disclosed in the interim statement of the results for the
six months ending 30 June 2004 expected to be released in August 2004.


DISCUSSIONS

The Company has entered into negotiations with interested parties as to possible
strategic partnerships intended to have a material beneficial impact on the
business and trading of the Company. Shareholders will be advised of
developments at the earliest appropriate opportunity.



In view of the information in the above two paragraphs, shareholders are advised
to consult their professional advisers and to exercise caution in their dealings
in the shares of the Company.




DIRECTORATE

Following receipt of the following communication dated 28 May 2004 to the
Chairman, Mr P Zhanda from Dr J T Makoni and Messrs. O O Chekeche, J A Mushore
and F Zimuto: "... in order to comply with the relevant regulatory requirements,
we have decided to relinquish our positions as executive directors of NMB Bank
Limited with immediate effect", the Board, at its meeting held on 1 June 2004,
accepted the resignations of the four executive directors. The Board resolved to
confirm Dr D T Hatendi and Mr M L dos Remedios, Acting Managing Director and
Acting Finance Director respectively over the last three months, as Chief
Executive Officer (CEO) and Chief Financial Officer (CFO) of NMB Bank Limited
and NMBZ Holdings Limited. Mr O O Chekeche also resigned from the Board of NMBZ
Holdings Limited and Mr F Zimuto withdrew his candidature to be re-elected at
the Annual General Meeting on 1 June 2004.





M B Narotam
Company Secretary
Harare



3 June 2004


Enquiries:

College Hill
Corinna Dorward                                        +44-207-457-2020





                      This information is provided by RNS
            The company news service from the London Stock Exchange
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