Capital Gains Tax
Shareholders of Iscor ("shareholders") are referred to the circular to
shareholders dated 29 October 2001, which provides certain information on
the application of Capital Gains Tax. Specifically, shareholders were
advised that Iscor was in discussions with the South African Revenue
Services ("SARS") with a view to agreeing a base cost for the shares in
Kumba Resources Limited ("Kumba shares") as at 27 September 2001, being the
date when the resolution to distribute Kumba shares to shareholders was
approved by the Directors of Iscor.
Shareholders are advised that Iscor has been unable to reach agreement with
SARS, although discussions are continuing and shareholders will be notified
of the outcome in due course. In the meantime it is suggested that
shareholders seek appropriate legal and tax advice on the base cost
attributable to their Kumba shares.
23 November 2001
Pretoria
Sponsor
JP Morgan
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