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KWV INVESTMENTS LIMITED - 
KWV INVESTMENTS LIMITED                                                         
Registration number: 1979/007263/06                                             
Share Code:    KWV                                                              
ISIN Number:   ZAE00004016                                                      
("KWV")                                                                         
APPOINTMENT AND RESIGNATION OF NON-EXECUTIVE DIRECTOR                           
PSG Capital Limited is authorised to announce that Mr Pieter Barend Botha has   
been appointed as a non-executive director to the board of KWV with effect from 
21 October 2003.  Mr Botha replaces Mr Nico Kotze who resigned as non-executive 
director with effect from 21 October 2003.                                      
22 October 2003                                                                 
Paarl                                                                           
Sponsor                                                                         
PSG Capital Limited                                                             
Date: 22/10/2003 01:20:01 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department

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