KEY RATES             28.06.96          21.06.96

Inflation May         10.30%            10.10%
Bank Rate             13.00%            13.00%
Prime Rate            14.50%            14.50%


EXCHANGE RATES

US$                   0.2968            0.2955
£Stg                  0.1918            0.1928
SA Rand               1.2868            1.2897
DM                    0.4517            0.4510
ZM$                   2.9289            2.9084
Yen                   32.560            32.160
Can$                  0.4011            0.4038
ECU                   0.2384            0.2383
SDR                   0.2056            0.2048

The content of this article is intended to provide general information on the subject matter. It is not therefor a substitute for specialist advice.

Minchin & Kelly (Botswana) - Gaborone (267) 312734