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Mon 1 Sep 2003, 18:14 RESIGNATION OF A NON-EXECUTIVE CHAIRPERSON AND NO
RAH - RESIGNATION OF A NON-EXECUTIVE CHAIRPERSON AND NON-EXECUTIVE DIRECTOR     
REAL AFRICA HOLDINGS LIMITED                                                    
(Registration number 1994/0003919/06)                                           
Share code: RAH                                                                 
ISIN:  ZAE000008702 ("RAH")                                                     
RESIGNATION OF A NON-EXECUTIVE CHAIRPERSON AND NON-EXECUTIVE DIRECTOR OF RAH    
Mr Don Ncube has resigned as the Non-Executive Chairman and Director of RAH with
effect from 29 August 2003.  The board appreciates the contribution made by Mr. 
Ncube since the formation of RAH.                                               
Johannesburg                                                                    
1 September 2003                                                                
Merchant Bank and Sponsor                                                       
Standard Corporate and Merchant Bank                                            
(A division of the Standard Bank of South Africa Limited)                       
(Registration number 1962/000738/06)                                            
Date: 01/09/2003 05:35:03 PM 
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
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