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Thu 3 Jul 2003, 16:43 Real Africa Holdings Limited - Dealing in Securiti
REAL AFRICA HOLDINGS LIMITED ("RAH")                                            
(Incorporated in the Republic of South Africa)                                  
Registration number 1994/003919/06)                                             
JSE Share Code: RAH                                                             
ISIN Code: ZAE000008702 ("RAH")                                                 
In accordance with the requirements of paragraph 3.72 to 3.75 of the JSE        
Securities Exchange South Africa"s Listing Requirements, the following should be
noted:                                                                          
Director:                          Donald Ncube                                 
Director (Executive/Non-Executive):Non-Executive Chairman                       
Date of transaction:               2 July 2003                                  
Nature of trade:                   Unbundling (Alienation)                      
Numbers of shares:                 9 412 208                                    
Cents per share:                   216                                          
Value of transaction:              R20 330 369.28                               
Class of shares:                   Ordinary                                     
Nature and extent of interest                                                   
in transactions:                   Beneficial - Indirect                        
Director:                          Donald Ncube                                 
(Executive/Non-Executive):         Non-Executive Chairman                       
Date of transaction:               2 July 2003                                  
Nature of trade:                   Purchase                                     
Numbers of shares:                 417 541                                      
Cents per share:                   216                                          
Value of transaction:              R901 888.56                                  
Class of shares:                   Ordinary                                     
Nature and extent of interest                                                   
in transaction:                    Beneficial - Direct
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