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Mon 23 Dec 2002, 16:34 African Life Assurance Company Limited - Directors
African Life Assurance Company Limited - Directors` Dealings                    
African Life Assurance Company Limited                                          
(Registered No.: 1911/003818/06)                                                
ISIN No:  ZAE000000246                                                          
JSE Code: AFI                                                                   
("the Company")                                                                 
In accordance with the requirements of paragraph 3.72 of the Listings           
Requirements of the JSE Securities Exchange South Africa, the Company issues the
following announcement regarding directors` dealings.                           
On 20 December 2002, Mr. JP Rowse, Mr WA Jack and Mr. JA Burbidge, who are      
directors of the Company ("the directors"), acquired 2683, 2684 and 2683        
ordinary shares in the Company (`these shares") respectively.   The directors   
acquired these shares following a distribution of these shares by an entity in  
which the directors hold an interest.  The entity had previously purchased these
shares at R7.07 per share.  Hence, the directors now hold these shares in a     
direct and beneficial capacity.                                                 
Sponsor:       Merrill Lynch South Africa (Pty) Ltd                             
Date: 23/12/2002 04:30:00 PM Produced by the JSE SENS Department                

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