Vehicular Ad hoc Network has been a key component of the Intelligent Transport System. An efficient mechanism for dissemination of information in VANETs is a challenging task. The high mobility of vehicular nodes and varying traffic flows makes selection of best relay vehicle to disseminate information a taxing task. Periodic beaconing for gathering information about the vehicles in the vicinity is though commonly employed in VANETs, but it degrades the performance resulting in channel contention and collisions. This paper presents a Speed Adaptive Beacon Broadcast approach that controls the beaconing rate depending upon the speed at which the vehicle is moving in comparison to the other vehicles in its locality. The selection of the relay vehicle is done keeping in consideration its distance from the source, local density and priority is given to the vehicle at an intersection. The approach is evaluated for both highway and urban scenario and simulation outcome reveals that SABB performs well in comparison to some of the existing approaches.