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GOLD REEF CASINO RESORTS LIMITED - FULFILMENT OF CONDITIONS PRECEDENT           
(Incorporated in the Republic of South Africa)                                  
(Registration number 1989/002108/06)                                            
Share Code: GDF                                                                 
ISIN Code: ZAE 000028338                                                        
FULFILMENT OF CONDITIONS PRECEDENT                                              
Shareholders are referred to the Casinos Austria International GmbH acquisition 
("CAI acquisition") announcements dated 7 March 2002 and 3 September 2002.      
Shareholders are advised that all the conditions precedent to the CAI           
acquisition have been fulfilled.                                                
Johannesburg                                                                    
28 October 2002                                                                 
Investment bank and sponsor                                                     
Nedcor Investment Bank                                                          
Corporate law advisers and consultants                                          
Edward Nathan & Friedland                                                       
Attorneys                                                                       
Werksmans                                                                       
Date: 29/10/2002 07:05:00 AM Produced by the JSE SENS Department

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