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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                                                
Ms Esline Nozipho Shuenyane has resigned as a Director of RAH with immediate    
effect.  RAH has expressed appreciation for the valued contribution made by     
Ms Shuenyane.                                                                   
Bryanston                                                                       
25 November 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: 25/11/2003 11:28:42 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                

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