INVESCOR
PINNACLE TECHNOLOGY HOLDINGS LIMITED
  (Incorporated in the Republic of South Africa)
  (Registration number 1986/000334/06)
  ("Pinnacle")
Announcement to shareholders regarding:
- The disposal of Pinnacle's 50% interest of the shares in and claims
against Invescor (Proprietary) Limited ("Invescor" or "the company")
1. Introduction
Benefique Capital is authorised to announce that Pinnacle has disposed of
its 50% interest of the shares in and claims against Invescor, a company
jointly held with Saambou Bank Limited ("the disposal") subject to the
fulfilment of certain conditions precedent set out in paragraph 3 below.
2. Background and rationale for the disposal
Invescor is a joint venture between Pinnacle and Saambou Bank Limited
("Saambou") providing finance for Information Technology products and
services to consumers and the corporate market. Saambou  manages and
administers the affairs of the company, whilst Pinnacle is responsible for
the marketing and sales affairs of the company.
   With changes in the Information Technology arena Pinnacle believes it
would be better served if Pinnacle distributes and markets Information
Technology products and services through it's own corporate structure.
3. The disposal
Pinnacle has disposed of its interest in Invescor with effect from 1 June
2001 for a cash consideration of R4,2 million payable on that date. The
purchaser is Saambou.
Pinnacle has provided warranties which are usual in transactions of this
nature and the disposal is subject to the following material conditions
precedent:
- the approval of the disposal by Pinnacle shareholders in general meeting;
and
- the approvals of the disposal by the JSE Securities Exchange South Africa
("JSE"), the Securities Regulation Panel ("SRP") and any other applicable
regulatory bodies insofar as may be necessary.
4. Financial effects of the disposal
The table below sets out the pro forma effects of the disposal on the net
asset value and earnings per Pinnacle share, after taking into account the
following:
- the audited earnings of Invescor for the six months ended 31 March 2001
and the net asset value of Invescor at 31 March 2001;
- the published unaudited earnings of Pinnacle for the six months ended 31
December 2000 and the net asset value of Pinnacle at 31 December 2000; and
- the disposal was effective on 1 July 2000 and the proceeds of the disposal
was invested for a period of six months at an after-tax interest rate of
6,93%.
                                Before     After
                                disposal   disposal   Percentage
                                (cents)    (cents)    change
Earnings per share              0,92       0,77       (16,43)
Net asset value per share       43,43      45,9       5,68
Shares in issue ('000)          147 897    147 897
5. Documentation
A circular containing details of the disposal and convening a general
meeting of Pinnacle shareholders will be posted to shareholders within 28
days of this announcement or such later time as may be agreed to by the JSE
and SRP.
  Johannesburg
  11 July 2001
Corporate advisor and sponsor
  Benefique Capital
Attorneys
  Moss-Morris Inc.
  (Registration number 1994/008751/21)