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Tue 25 Nov 2003, 16:14 ACCEPTANCE OF SHARE OPTIONS BY DIRECTORS
ELLERINE HOLDINGS LIMITED - ACCEPTANCE OF SHARE OPTIONS BY DIRECTORS            
ELLERINE HOLDINGS LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1968/013402/06)                                            
Share code: ELH                                                                 
ISIN: ZAE000022752                                                              
("Ellerines")                                                                   
ACCEPTANCE OF SHARE OPTIONS BY DIRECTORS                                        
In compliance with rule 3.63 of the JSE Listings Requirements, the following    
information is disclosed:                                                       
Director:                          B D van der Merwe                            
Company:                           Ellerine Holdings Limited                    
Date of acceptance:                30 October 2003                              
Number of share options accepted:  80 000                                       
Price of share option:             R26.85 per share option                      
Value of transaction:              R2 148 000                                   
Extent of interest:                Direct beneficial                            
Share class:                       Share options                                
Nature of transaction:             Acceptance of share options in terms of      
Ellerines" Deferred Delivery Share Scheme    
Written permission to deal:        Yes                                          
Alternate director to                                                           
B D van der Merwe:                 J A Smith                                    
Company:                           Ellerine Holdings Limited                    
Date of acceptance:                30 October 2003                              
Number of share options accepted:  80 000                                       
Price of share option:             R26.85 per share option                      
Value of transaction:              R2 148 000                                   
Extent of interest:                Direct beneficial                            
Share class:                       Share options                                
Nature of transaction:             Acceptance of share options in terms of      
Ellerines" Deferred Delivery Share Scheme    
Written permission to deal:        Yes                                          
Johannesburg                                                                    
25 November 2003                                                                
Sponsor:                                                                        
Nedbank Corporate                                                               
Date: 25/11/2003 03:45:03 PM Supplied by www.sharenet.co.za                     
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