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Thabex Exploration Limited - Dealing In Securities By Directors                 
THABEX EXPLORATION LIMITED                                                      
("Thabex")                                                                      
Registration No 1988/000763/06                                                  
(Incorporated in the Republic of South Africa)                                  
JSE share code: TBX                                                             
ISIN Code: ZAE000013686                                                         
Young Lions Exploring Africa                                                    
THABEX - DEALING IN SECURITIES BY DIRECTORS                                     
In accordance with the requirements of paragraph 3.72 to 3.75 of the JSE        
Securities Exchange South Africa Listing Requirements, the following should be  
noted:                                                                          
Director                           :  Marius Welthagen                          
Director(Executive/Non-executive)  :  Executive                                 
Date of transaction                :  12 March 2003                             
Nature of trade                    :  Sale                                      
Number of shares sold              :  24 000                                    
Cents per share                    :  45c                                       
Price                              :  R10 800                                   
Class of shares                    :  Ordinary                                  
Nature and extent of interest in   :  Indirect beneficial                       
transactions

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