Hamilton, Bermuda - 28th July, 1998: The Listing Committee of The Bermuda Stock Exchange (The BSX) today announced the approval of the listing of up to 100,000,000 Shares each of the Orbis Optimal (Euro) Fund, the Orbis Leveraged (Euro) Fund, and the Orbis Africa Equity (Rand) Fund.
These Orbis funds are all open-end mutual fund companies incorporated in Bermuda. The objective of the Euro Funds is capital appreciation in the euro. The Orbis Optimal (Euro) Fund and the Orbis Leveraged (Euro) Fund invest substantially all of their assets in the Orbis Optimal (US$) Fund and the Orbis Leveraged (US$) Fund respectively, and by selling forward US dollars into the euro, they can hedge their currency exposure into the euro. The objective of the Orbis Africa (Rand) Fund is to obtain higher returns in South African rand than the South African stockmarket, without greater risk.
These Orbis funds are managed by Orbis Investment Management Limited, Bermuda.
The Orbis family of funds are dedicated to providing superior investment performance and service.
The listing of the Orbis funds is sponsored by Bermuda International Securities Ltd., (a wholly owned subsidiary of The Bank of Bermuda Limited) of Hamilton, Bermuda. The securities are being listed under the Listing Regulations for Collective Investment Schemes.
Allan Gray, Chairman of the Orbis Funds, said "We are pleased to have these new Orbis funds listed on The BSX with our other funds."
"The BSX is pleased to welcome the listing of three more Orbis funds. A total of eight Orbis funds are now listed on the Exchange, while the total number of funds listed on the Exchange now stands at 121," said Mr. James S. McKirdy, Listing Manager of The BSX.
For further information on the Orbis funds, please contact Helene Hart or Geoffrey Gardner at Orbis in Bermuda at telephone: 441-296-3000, facsimile: 441-296-3001 or e-mail: info@orbis.bm. For additional information on The BSX please contact Stephen Davidson, Tel: 441-292-7212 or e-mail sdavidson@bsx.com.