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SouthAfricanBrewerie (SAB)

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Friday 07 September, 2001


Convertible Bond Issue

South African Breweries PLC
7 September 2001


                         South African Breweries plc

                            Convertible Bond Issue

  Exercise of Option in respect of US$100,000,000 principal amount of Bonds

SAB Finance (Cayman Islands) Limited (the 'Issuer') US$500,000,000 4.25 per
cent. Guaranteed Convertible Bonds due 2006 (the 'Bonds') guaranteed by South
African Breweries plc ('SAB') and by South African Breweries International
(Finance) B.V. and convertible into 4.25 per cent. exchangeable redeemable
preference shares of the Issuer which will be either exchanged immediately
upon issuance for, or redeemed and the proceeds applied to subscribe for or
purchase, ordinary shares in SAB

SAB Finance (Cayman Islands) Limited announces that on 7 September 2001,
JPMorgan, on behalf of the Managers, exercised its option to subscribe, or
procure subscribers for, a further US$100,000,000 in aggregate principal
amount of Bonds (the 'Optional Bonds'). Following the issue of the Optional
Bonds, the aggregate principal amount of the Bonds will be US$600,000,000.

It is expected that the issue of and payment for the Optional Bonds will take
place on or about 14 September 2001, and that the Optional Bonds will be
admitted to the official list of the UK Listing Authority and to trading on
the London Stock Exchange's market for listed securities on or about 17
September 2001.

This press release does not constitute an offer of the Bonds to any person, or
an invitation by or on behalf of SAB or SAB Finance (Cayman Islands) Limited
to any person to subscribe for or purchase any of the Bonds. The Bonds, the
preference shares and the ordinary shares to be issued in exchange for the
preference shares upon conversion of the Bonds, have not been and will not be
registered under the United States Securities Act of 1933 (the 'Securities
Act'). The Bonds may not be offered or sold in the United States or to, or for
the account or benefit of, U.S. persons (as such term is defined in Regulation
S under the Securities Act) unless they are registered under the Securities
Act or exempt from registration thereunder. Any offering of securities to be
made in the United States will be made by means of an offering circular that
will contain detailed information about SAB, SAB Finance (Cayman Islands)
Limited and management, as well as financial statements.

For more information, please contact:

South African Breweries plc:

Malcolm Wyman

Chief Financial Officer +44 20 7659 0100

Nick Chaloner

Director of Communications +44 20 7659 0119/+44 7880 502 755


Tim Elliott +44 20 7325 4996