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Wed 7 Jul 2004, 17:05 Exercise Of Share Options By Directors
Argent Industrial Limited - Exercise Of Share Options By Directors 

Release Date: 07/07/2004 16:52:03      Code(s): ART        
Argent Industrial Limited - Exercise Of Share Options By Directors              
ARGENT INDUSTRIAL LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1993/002054/06)                                            
(Share code: ART        ISIN:  ZAE000019188)                                    
(`Argent` or `the Company`)                                                     
EXERCISE OF SHARE OPTIONS BY DIRECTORS                                          
LPC Manhattan is authorised to announce that as at 6 July 2004, the following   
directors have exercised share options in the Company :                         
Director        Allot   Allot     Allot    Allot   Allot    Allot      Total    
                   at      at        at       at      at       at   allotted    
R0.90   R1.91     R2.51    R3.44   R4.96    R4.97               
M J Antonic    30 000       0         0        0           20 000     50 000    
S J Cox         9 216   5 596      4706   40 000           10 000     69 518    
P A Day        78 750  15 000    18 824        0                0    112 574    
T R Hendry     37 616   5 596     4 706   70 000  30 000             147 918    
P Lawson            0       0         0        0           10 000     10 000    
D Smith         7 386   2 796     4 706   22 152            5 000     42 040    
G K Youngman    7 520   2 200         0   40 000   5 000              54 720    
All options were exercised on ordinary shares, and clearance was obtained prior 
to the exercising of the options.  The table below sets out the resultant       
directors` interests in the share capital of Argent:                            
Director                       Number of     Percentage                         
ordinary shares   shareholding                         
                                    held                                        
M J Antonic                      270 406           0.59                         
S J Cox                           72 906           0.40                         
P A Day                          347 406           0.52                         
T R Hendry                       399 129           0.11                         
P Lawson                          77 856           0.07                         
D Smith                           53 946           0.12                         
G K Youngman                      49 440           0.08                         
Maraisburg                                                                      
7 July 2004                                                                     
Sponsor                                                                         
LPC Manhattan Sponsors (Pty) Limited                                            
Registration number 1999/012479/07                                              
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