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Wed 17 Sep 2003, 10:49 DEALING IN SECURITIES BY DIRECTORS
AFRICAN LIFE ASSURANCE CO LIMITED - DEALING IN SECURITIES BY DIRECTORS          
  African Life Assurance Co Limited                                               
  (Incorporated in the Republic of South Africa)                                  
  Registration number: 1911/003818/06                                             
  Share Code: AFI                                                                 
  ISIN Code: ZAE000000246                                                         
  Dealing in securities by directors of listed companies                          
  In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the  
  JSE Securities Exchange South Africa, the following information is disclosed:   
  Director:                          J P Rowse                                    
  Date of transaction:               16 September 2003                            
  Number of shares acquired:         1871                                         
  Price per share:                   R14.50                                       
  Total value of shares acquired:    R27,129.50                                   
  Class of securities:               Ordinary shares                              
  Nature of transaction:             Purchase                                     
  Nature and extent of interest:     Direct interest                              
  Houghton                                                                        
  17 September 2003                                                               
  Sponsor                                                                         
  Merrill Lynch South Africa (Pty) Limited                                        
  Date: 17/09/2003 10:30:02 AM Produced by the JSE SENS Department
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