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Wed 4 Aug 2004, 9:50 DEALING IN SECURITIES BY A DIRECTOR
ALEXANDER FORBES LIMITED - DEALING IN SECURITIES BY A DIRECTOR                  
  Alexander Forbes Limited                                                        
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1958/001974/06)                                            
  ISIN: ZAE000018230 Share code: AFB                                              
  (`Alexander Forbes` or `the Company`)                                           
  DEALING IN SECURITIES BY A DIRECTOR                                             
  In terms of paragraph 3.63 - 3.65 of the Listings Requirements of the JSE       
  Securities Exchange South Africa, the following information is disclosed:       
  EXECUTIVE DIRECTOR:              R I Gordon  (Group Chief Executive)            
  DIRECTOR OF:                     Alexander Forbes Limited                       
  TRANSACTION DATE:                2-3 August 2004                                
  NUMBER OF SHARES PURCHASED:      62 000                                         
  AVERAGE PRICE PER SHARE:         1015 cents                                     
  TOTAL VALUE:                     R629 300                                       
  CLASS OF SECURITY:               Ordinary shares                                
  NATURE OF TRANSACTION:           Purchase of shares on open market              
  EXTENT OF INTEREST:              Indirect and non-beneficial                    
  CLEARANCE TO DEAL OBTAINED:      Yes                                            
  Sandton                                                                         
  4 August 2004                                                                   
  Joint Sponsors                                                                  
  Cazenove                 Investec                                               
  Date: 04/08/2004 08:47:42 AM Produced by the JSE SENS Department                
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