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Fri 26 Sep 2003, 9:43 Invicta - CHANGE TO THE BOARD OF DIRECTORS
Invicta - CHANGE TO THE BOARD OF DIRECTORS                                      
INVICTA HOLDINGS LIMITED                                                        
("INVICTA")                                                                     
(Registration number 1966/002182/06)                                            
(Share code: IVT)                                                               
(ISIN code: ZAE000029773)                                                       
("Invicta")                                                                     
CHANGE TO THE BOARD OF DIRECTORS                                                
In accordance with Section 3.59 of the JSE Securities Exchange South Africa     
Listings Requirements, in respect of a change to the Board of Directors of a    
listed company, notification is given that Mr. David McCay has resigned as a    
director of Invicta with effect from 26 September 2003.
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