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Tue 15 Jul 2003, 9:12 MGX - RESULTS OF THE GENERAL MEETING
MGX Holdings Limited                                                            
   (Incorporated in the Republic of South Africa)                               
(Registration number 1983/012697/06)                                         
   Share code: MGX     ISIN:ZAE000009262                                        
   ("MGX")                                                                      
RESULTS OF THE GENERAL MEETING                                                  
Shareholders of MGX are advised that at the general meeting held on Monday,  
14 July 2003 relating to the disposal of the business of MGX Enterprise         
Solutions (Proprietary) Limited ("Enterprise Solutions") to Dreamteam           
Investments (Proprietary) Limited ("the Enterprise Solutions disposal"), the    
requisite majority of MGX shareholders voted in favour of the ordinary          
resolutions pertaining to the Enterprise Solutions disposal.                    
   All the conditions precedent for the Enterprise Solutions disposal have now  
been fulfilled.                                                                 
Sandton                                                                      
   14 July 2003                                                                 
Merchant bank and sponsor                                                       
   SCMB                                                                         
Standard Corporate and Merchant Bank                                         
  (A division of The Standard Bank of South Africa Limited)                     
  (Registration number 1962/000738/06)                                          
Reporting accountants and auditors                                              
Deloitte & Touche Chartered Accountants (SA)                                 
   Registered Accountants and Auditors                                          
Attorneys                                                                       
   WEBBER WENTZEL BOWENS                                                        
Independent adviser                                                             
   Deloitte & Touche                                                            
   Corporate Finance
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