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Wed 10 Dec 2003, 11:41 DEALING IN SECURITIES BY DIRECTORS
THE AFRIKANDER LEASE LIMITED - DEALING IN SECURITIES BY DIRECTORS               
  THE AFRIKANDER LEASE LIMITED                                                    
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1921/006955/06)                                            
  Share code:  AFL      ISIN:  ZAE000000253                                       
  DEALING IN SECURITIES BY DIRECTORS                                              
  In compliance with rule 3.63 of the JSE Listings Requirements, the following    
  information is disclosed:                                                       
  Chairman:                     D J Nortier                                       
  Company:                      The Afrikander Lease Limited                      
  Date of transaction:          10 December 2003                                  
  Number of shares purchased:   30 000                                            
  Price purchased at:           R1.83 per share                                   
  Value of transaction:         R54 900                                           
  Extent of interest:           Direct beneficial                                 
  Share class:                  Ordinary shares                                   
  Nature of transaction:        Purchase on the open market                       
  Written permission to deal:   Yes                                               
  Chief Executive Officer:      N J Froneman                                      
  Company:                      The Afrikander Lease Limited                      
  Date of transaction:          10 December 2003                                  
  Number of shares purchased:   50 000                                            
  Price purchased at:           R1.32 per share                                   
  Value of transaction:         R66 000                                           
  Extent of interest:           Direct beneficial                                 
  Share class:                  Ordinary shares                                   
  Nature of transaction:        Purchase on the open market                       
  Written permission to deal:   Yes                                               
  Director:                     K V Dicks                                         
  Company:                      The Afrikander Lease Limited                      
  Date of transaction:          10 December 2003                                  
  Number of shares purchased:   25 000                                            
  Price purchased at:           R1.76 per share                                   
  Value of transaction:         R44 000                                           
  Extent of interest:           Direct beneficial                                 
  Share class:                  Ordinary shares                                   
  Nature of transaction:        Purchase on the open market                       
  Written permission to deal:   Yes                                               
  Director:                     M Steyn                                           
  Company:                      The Afrikander Lease Limited                      
  Date of transaction:          10 December 2003                                  
  Number of shares purchased:   11 000                                            
  Price purchased at:           R1.70 per share                                   
  Value of transaction:         R18 700                                           
  Extent of interest:           Direct beneficial                                 
  Share class:                  Ordinary shares                                   
  Nature of transaction:        Purchase on the open market                       
  Written permission to deal:   Yes                                               
  Johannesburg                                                                    
  10 December 2003                                                                
  Sponsor                                                                         
  Nedbank Corporate                                                               
  Date: 10/12/2003 11:37:04 AM Produced by the JSE SENS Department                
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