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Mon 20 Oct 2003, 14:54 DEALINGS IN SECURITIES BY DIRECTORS
EXPLORER CORPORATION HOLDINGS LIMITED - DEALINGS IN SECURITIES BY DIRECTORS     
EXPLORER CORPORATION HOLDINGS LIMITED ("EXPLORER")                              
(Incorporated in the Republic of South Africa)                                  
Registration number - 1997/010950/06                                            
Share code: EPL                                                                 
ISIN: ZAE000039970                                                              
DEALINGS IN SECURITIES BY DIRECTORS                                             
In compliance with paragraphs 3.63 to 3.65 of the Listings Requirements of the  
JSE Securities Exchange South Africa, the following information is disclosed:   
Name of director:                  Y Bazian                                     
Date of transaction:               17 October 2003                              
Number of shares:                  98 000                                       
Class of securities:               Ordinary shares                              
Nature of transaction:             Purchase                                     
Price per share:                   30 cents                                     
Extent of change in director"s                                                  
interest:                          Direct (0,08%)                               
Name of director:                  Y Bazian                                     
Date of transaction:               17 October 2003                              
Number of shares:                  515                                          
Class of securities:               Ordinary shares                              
Nature of transaction:             Purchase                                     
Price per share:                   29 cents                                     
Extent of change in director"s                                                  
interest:                          Direct (0,00%)                               
Clearance for the share purchases was obtained in compliance with paragraph 3.66
of the JSE Listings Requirements.                                               
Johannesburg                                                                    
20 October 2003                                                                 
Sponsor:                                                                        
Arcay Group Limited                                                             
Date: 20/10/2003 02:45:02 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
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