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Thu 13 Feb 2003, 16:51 Wilson Bayly Holmes - Ovcon Limited - CASH DISTRIB
Wilson Bayly Holmes - Ovcon Limited                                             
(Incorporated in the Republic of South Africa)                                  
Registration number 1982/011014/06                                              
Share Code: WBO     ISIN: ZAE000009932                                          
("WBHO" or "the company")                                                       
CASH DISTRIBUTION OUT OF SHARE PREMIUM                                          
Notice is hereby given that the directors of WBHO have proposed a cash          
distribution, by way of a reduction of share premium, of 14 cents per ordinary  
share for the six months ended 31 December 2002 ("the distribution"), subject to
the approval of shareholders at the General Meeting to be held on Friday, 28    
February 2003.                                                                  
The last day to trade cum the distribution is Friday, 4 April 2003. Shares will 
commence trading ex the distribution from Monday, 7 April 2003. The distribution
is payable to all shareholders of WBHO recorded in the register of the company  
at the close of business on Friday, 11 April 2003. Payment will be made on      
Monday, 14 April 2003. Share certificates may not be dematerialised or          
rematerialised between Monday, 7 April 2003 and Friday, 11 April 2003, both days
inclusive. A circular giving formal notice of the meeting will be posted to     
shareholders today.                                                             
For and on behalf of the board                                                  
12 February 2003                                                                
Sponsor                                                                         
Investec Bank Limited                                                           
Date: 13/02/2003 03:52:39 PM Produced by the JSE SENS Department                
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