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Mon 23 Dec 2002, 11:04 Rareco - Director dealings in shares
RARE EARTH EXTRACTION CO LIMITED                                                
(Incorporated in the Republic of South Africa)                                  
(Registration number 1989/003212/06)                                            
("Rareco")                                                                      
SHARE CODE: RCO     ISIN: ZAE000005807                                          
DIRECTORS DEALING IN SECURITIES                                                 
In compliance with the requirements of rule 3.72 to 3.75 of the JSE Listings    
Requirements, the following should be noted:                                    
Director            :    Mr T A Blench                                          
Date of Transaction :    19 December 2002                                       
No of shares        :    10 000                                                 
Price               :    45 cents                                               
Total amount        :    R 4 500                                                
Class               :    Ordinary shares                                        
Nature              :    Purchase                                               
Extent of interest  :    Indirect beneficial                                    
end                                                                             
Date: 23/12/2002 10:16:00 AM Produced by the JSE SENS Department
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