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Kalahari expands Americas team by appointing O'Mahoney

London. June 26, 2001. Michael O'Mahoney has joined Kalahari's New York
team as Development Consultant, Americas.

Michael will be responsible for developing pricing applications for k.A.C.E.
(Kalahari Advanced Calculation Environment) specific to the Americas,
including a full suite of Latin America trading products.

During Michael's varied career he has worked for a number of banks,
including Hong Kong and Shanghai Bank Group (HSBC) in Frankfurt, Canada and
Hong Kong, National Bank of Canada in Montreal and Bank of Montreal in
Montreal. He has also worked for a number of money broking companies in
North America, such as Garban Intercapital.

Prior to joining Kalahari, Michael represented Tullett and Tokyo Liberty in
San Paolo, and was vice president of the emerging markets desk at Tradition
in New York.

He has also held the position of Treasurer at Den Danske Bank, New York,
HSBC, Canada and HSBC Germany.

Nigel Weston, Director, Americas, Kalahari Limited said:
"Michael brings a wealth of knowledge and experience to the company and will
be an integral part of Kalahari's future expansion in the US. I'm very
pleased that he has joined the team and I look forward to working with him."