Iscor Limited
(Registered and incorporated in the Republic of South Africa)
(Registration number 1989/002164/06)
("Iscor" or the "Company")
DEFERRAL OF PROPOSAL BY AVMIN/IDC ALLIANCE TO RESTRUCTURE ISCOR BOARD OF
DIRECTORS
Shareholders of Iscor ("Shareholders") are referred to the joint announcement
published by Anglovaal Mining Limited ("Avmin") and the Industrial Development
Corporation of South Africa Limited ("IDC") (collectively, the "Avmin/IDC
Alliance") on Friday, 30 March 2001, in which they announce that they are
deferring their proposal to convene a general meeting of shareholders at which
resolutions aimed at replacing certain members of the current board of
directors with their own nominees, would be proposed.
Details of Iscor's restructuring proposals were reflected in an announcement
dated 1 March 2001 and represented the culmination of a process that Iscor had
been engaged in for some time. Shareholders are advised that the implementation
of these proposals is in progress and that the unbundling of Minco is on-track
for implementation on or about 2 July 2001.
Further announcements regarding Iscor's restructuring proposals will be made on
an ongoing basis.
Pretoria
2 April 2001
Financial adviser and Sponsor
JP Morgan
Corporate law adviser and consultant
Edward Nathan & Friedland (Pty) Ltd
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