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Thu 2 Jan 2003, 16:54 Rareco - Director Dealings In Securities
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      :    2 January 2003                                    
No of shares             :    5 000                                             
Price                    :    45 cents                                          
Total amount             :    R 2 250                                           
Class                    :    Ordinary shares                                   
Nature                   :    Purchase                                          
Extent of interest       :    Indirect beneficial                               
end                                                                             
Date: 02/01/2003 11:59:00 AM Produced by the JSE SENS Department                

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