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Thu 13 Mar 2003, 14:34 Monteagle - Confirmation of South African Exchange
Monteagle Holdings Societe Anonyme                                              
("Monteagle")                                                                   
(Incorporated in Luxembourg - RC Luxembourg No. B 19600)                        
Share Code: MTE               ISIN Code: LU0035797272                           
Declaration of dividend                                                         
Confirmation of South African Exchange Rate and dividend rate in respect of the 
Monteagle dividend                                                              
Further to the announcement to shareholders published on 7 January 2003 in which
shareholders were informed that the exchange rate to be used to determine       
the Rand equivalent of the final dividend for the year ended 30 September 2002  
payable on Friday, 2 May 2003 would be calculated on 13 March 2003, shareholders
are hereby advised that the exchange rate to be used will be US$ 1 = R8.0862.   
This has been calculated as the average of the bid/ask spread as at 14h00 (South
African time) on 12 March 2003.                                                 
Consequently the dividend of 5 us cents will be equal to 40.431 South African   
cents.                                                                          
The last day to trade cum dividend will be 20 March 2003.                       
The record date is 28 Mar March 2003.                                           
Johannesburg                                                                    
13 March 2003                                                                   
Sponsor                                                                         
The Janus Corporation (Pty) Ltd                                                 



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