KEY RATES           28/6/96       21/6/96

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


EXCHANGE RATES      25/7/96       05/7/96

US$                 0.2920        0.2964
£Stg                0.1883        0.1905
SA Rand             1.2890        1.2866
DM                  0.4345        0.4524
ZM$                 2.8755        2.9242
Yen                 31.250        32.810
Can$                0.3980        0.4029

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

Business Monitor 1996 Tel +44 (0) 171 820 7733.