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Tue 5 Oct 2004, 12:38 INCREASE IN ISSUED SHARE CAPITAL ARISING
LIBERTY GROUP LIMITED - INCREASE IN ISSUED SHARE CAPITAL ARISING FROM           
IMPLEMENTATION OF SHARE OPTIONS IN TERMS OF THE LIBERTY GROUP LIMITED SHARE     
OPTION SCHEMES                                                                  
Liberty Group Limited                                                           
(Registration number 1957/002788/06)                                            
(Incorporated in the Republic of South Africa)                                  
Registration number 1957/002788/06                                              
Alpha Code: LGL                                                                 
Issuer Code: LIBU                                                               
ISIN No. : ZAE000024543                                                         
INCREASE IN ISSUED SHARE CAPITAL ARISING FROM IMPLEMENTATION OF SHARE OPTIONS IN
TERMS OF THE LIBERTY GROUP LIMITED SHARE OPTION SCHEMES                         
Notification is hereby given that Liberty Group Limited has issued 745 179 new  
ordinary shares of 10 cents each pursuant to the implementation of share options
on 30 September 2004 in terms of the Liberty Group Limited Share Incentive      
Schemes.                                                                        
Accordingly application has been made to the JSE for these shares to be admitted
to the Official List and for these shares to be admitted to trading with effect 
from 5 October 2004.                                                            
The shares rank pari passu with the existing issued ordinary shares of Liberty  
Group Limited.  The issued ordinary share capital of Liberty Group Limited after
the above issue is 276 592 907 shares of 10 cents each.                         
Johannesburg                                                                    
5 October 2004                                                                  
Sponsor                                                                         
Merrill Lynch South Africa (Pty) Ltd
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