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Thu 22 Jan 2004, 11:20 EXERCISE OF SHARE OPTIONS BY DIRECTORS
SCHARRIG MINING LIMITED - EXERCISE OF SHARE OPTIONS BY DIRECTORS                
SCHARRIG MINING LIMITED                                                         
(Incorporated in the Republic of South Africa)                                  
(Registration number 1992/001973/06)                                           
(Share code: SCN         ISIN:  ZAE000006474)                                   
("Scharrig" or "the Company")                                                   
EXERCISE OF SHARE OPTIONS BY DIRECTORS                                          
LPC Manhattan is authorised to announce that the following directors have       
exercised share options in the Company:                                         
Director           Number          Price (Cents)                                
AJ Reineke         40 000          53                Purchase                   
C Moorcroft        40 000          53                Purchase                   
J Holland          40 000          53                Purchase                   
TR Hendry          40 000          53                Purchase                   
Date options exercised:  13 January 2004                                        
Extent of Interest:      Direct beneficial                                      
Boksburg                                                                        
22 January 2004                                                                 
Sponsor                                                                         
LPC Manhattan Sponsors (Pty) Limited                                            
Date: 22/01/2004 11:18:02 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department
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