1.   Analysts said the growth in asset swaps illustrates the pent-up demand in South Africa for exposure beyond the securities listed on the Johannesburg Stock Exchange.

2.   Asset swaps had helped money flow out gradually without destabilizing the rand, Liebenberg said.

3.   Brown said at the time he saw China Telecom eventually becoming equal partners in Hong Kong Telecom through an asset swap.

4.   CFCF yesterday lost a court appeal, which will force it to put its proposed asset swap with Le Groupe Videotron Ltee to a shareholder vote.

5.   Cogeco Cable yesterday won its court appeal to force CFCF to call a shareholder vote on its proposed asset swap with Groupe Videotron.

6.   Cogeco earlier this month won a court battle forcing CFCF to call a shareholder vote on a proposed asset swap between its takeover target and Le Groupe Videotron Ltee.

7.   In January, Rand Merchant Bank Asset Management set up a Global Equity Fund allowing its clients to invest overseas via asset swaps.

8.   Liebenberg said asset swaps had been somewhat successful in helping money flow out gradually without destabilizing the rand.

9.   No asset swap is required in this case.

10.   Possible avenues include strategic alliances with other companies, selling shares and asset swaps.