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REAL AFRICA HOLDINGS LIMITED - RESIGNATION OF A DIRECTOR OF RAH                 
  REAL AFRICA HOLDINGS LIMITED                                                    
  (Registration number 1994/0003919/06)                                           
  Share code: RAH                                                                 
  ISIN:  ZAE000008702 ("RAH")                                                     
  RESIGNATION OF A DIRECTOR OF RAH                                                
  Mr Mfundi Vundla has resigned as a Director of RAH with immediate effect.  RAH  
  has expressed appreciation for the valued contribution made by Mr Vundla.       
  Bryanston                                                                       
  17 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: 18/09/2003 07:35:24 AM Produced by the JSE SENS Department

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