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Wed 25 Feb 2004, 8:34 THABEX EXPLORATION LIMITED - DEALING IN SECURITIES
THABEX EXPLORATION LIMITED - DEALING IN SECURITIES BY DIRECTOR                  
THABEX EXPLORATION LIMITED                                                      
("Thabex")                                                                      
Registration No 1988/000763/06                                                  
(Incorporated in the Republic of South Africa)                                  
JSE share code: TBX                                                             
ISIN Code: ZAE000013686                                                         
Young Lions Exploring Africa                                                    
DEALING IN SECURITIES BY DIRECTORS                                              
In accordance with the requirements of the JSE Securities Exchange South Africa 
Listing Requirements, the following should be noted:                            
Director:                             Marius Welthagen                          
Director(Executive/Non-executive):    Executive                                 
Date of transaction:                  23 February 2004                          
Nature of trade:                      Purchase                                  
Number of shares purchased:           50 000                                    
Cents per share:                      40c                                       
Purchase Price:                       R20 000                                   
Class of shares:                      Ordinary                                  
Nature and extent of interest in                                                
transactions:                         Indirect beneficial                       
Clearance for dealing obtained:       Confirmed by Chairman                     
25 February 2004
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