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Thu 27 Nov 2003, 18:05 Dealing in securities by directors
Afgri Limited - Dealing in securities by directors                              
AFGRI LIMITED                                                                   
Incorporated in the Republic of South Africa                                    
Registration number : 1995/004030/06                                            
Share Code: AFR                                                                 
ISIN : ZAE000040549                                                             
In compliance with rules 3.63 - 3.74 of the JSE Listings Requirements, the      
following information is disclosed:                                             
GRANTING AND ACCEPTANCE OF SHARE OPTIONS                                        
Financial Director                 :    I de W Goosen                           
Company                            :    AFGRI Limited                           
Nature of Transaction              :    Grant and acceptance of options with a  
                                        deferred right to sell                  
Number of options                  :    868 000                                 
Date of Transaction                :    25 November 2003                        
Option strike & market price       :    R5-20                                   
Period of deferred right to sell   :    1/3rd per annum over the next 3 years.  
Total value of transaction         :    R4 513 600                              
Nature of interest                 :    Direct                                  
27 November 2003                                                                
Sponsor                                                                         
Rand Merchant Bank, a division of FirstRand Bank Limited, Corporate Finance     
Date: 27/11/2003 05:53:02 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
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