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Fri 30 Jul 2004, 11:28 Director"s Dealing In Securities
Aquila Growth Limited - Director`s Dealing In Securities                        
Aquila Growth Limited                                                           
Incorporated in the Republic of South Africa                                    
(Registration number 1995/003158/06)                                            
Share code: AQL  ISIN: ZAE000013959                                             
DIRECTOR`S DEALING IN SECURITIES                                                
In compliance with paragraphs 3.63 - 3.74 of the Listings Requirements of the   
JSE Securities Exchange South Africa, the following information is disclosed:   
Name of  Date of      Number   Class of Price    Nature of   Extent of          
director transaction  of       security per      the         director`s         
                      shares            share    transaction interest           
(cents)                                 
Mr James 28 July      250 000  Ordinary 290      Disposal    Indirect           
Bell     2004                  shares                        beneficial         
The necessary clearance was obtained in terms of paragraph 3.66 of the JSE      
Listings Requirements.                                                          
Johannesburg                                                                    
30 July 2004                                                                    
Sponsor: Bridge Capital Services (Pty) Limited
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