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Fri 25 Jun 2004, 14:52 DEALING IN SECURITIES BY A DIRECTOR
MUTUAL & FEDERAL INSURANCE COMPANY LIMITED - DEALING IN SECURITIES BY A DIRECTOR
  MUTUAL & FEDERAL INSURANCE COMPANY LIMITED                                      
  (Incorporated in the Republic of South Africa)                                  
  ISIN No: ZAE000010823    Share code: MAF                                        
  (Reg.No. 1970/006619/06)                                                        
  DEALING IN SECURITIES BY A DIRECTOR OF MUTUAL & FEDERAL INSURANCE COMPANY       
  LIMITED                                                                         
  In compliance with Rule 3.63 of the Listings Requirements of the JSE Securities 
  Exchange South Africa, the following information is disclosed:                  
  Director:                    Bruce Campbell                                     
  Office held                  Managing Director                                  
  Date of transaction:         23 and 24 June 2004                                
  Total number of shares:      157 600                                            
  Strike price:                R8.06                                              
  Total value of transaction:  R1 270 256                                         
  Class of shares:             Ordinary shares                                    
  Nature of transaction:       Exercise of options in terms of                    
                               the Mutual & Federal Share Option                  
                               Scheme                                             
  Extent of interest:          Direct beneficial                                  
  Director:                    Bruce Campbell                                     
  Office held                  Managing Director                                  
  Date of transaction:         23 and 24 June 2004                                
  Total number of shares:      103 100                                            
  Price per share:             R19.25                                             
  Total value of transaction:  R1 984 675                                         
  Class of shares:             Ordinary shares                                    
  Nature of transaction:       Sale of shares on the open market                  
  Extent of interest:          Direct beneficial                                  
  Written permission to deal:  Yes                                                
  Johannesburg                                                                    
  25 June 2004                                                                    
  Sponsor                                                                         
  Nedbank Capital                                                                 
  Date: 25/06/2004 02:41:02 PM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
                                                                                  
  



 
 

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