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Wed 4 Aug 2004, 9:56 ALEXANDER FORBES LIMITED - DEALING IN SECURITIES B
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
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