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Wed 27 Oct 2004, 17:52 Announcement to NAIL shareholders
NAIL - Announcement to NAIL shareholders                                        
NEW AFRICA INVESTMENTS LIMITED                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 1993/002467/06)                                            
Share code: NAI and NAN                                                         
ISIN: ZAE000033338 and ZAE000033346                                             
(`NAIL`)                                                                        
ANNOUNCEMENT TO NAIL SHAREHOLDERS                                               
Notice is hereby given that a special dividend of 200 cents per share has been  
declared payable to NAIL ordinary shareholders and NAIL `N` shareholders        
recorded in the register at the close of business on Friday, 19 November 2004 in
accordance with the following timetable:                                        
                                      2004                                      
Last day to trade cum the dividend    Friday 12 November                        
Shares commence trading ex the        Monday 15 November                        
dividend                                                                        
Record date                           Friday 19 November                        
Payment date                          Monday 22 November                        
Share certificates may not be dematerialised or rematerialised between Monday,  
15 November 2004 and Friday, 19 November 2004, both days inclusive.             
On Monday, 22 November 2004, the dividend will be electronically transferred to 
the bank accounts of all certificated shareholders where this facility has been 
mandated.  Where this has not been mandated, cheques dated 22 November 2004 will
be posted on that date. Shareholders who have dematerialised their share        
certificates will have their accounts, which are held at their CSDP`s or        
brokers, credited on Monday, 22 November 2004.                                  
By order of the Board                                                           
Bryanston                                                                       
27 October 2004                                                                 
Merchant bank                            Sponsor                                
Investec Bank Limited                    Investment Bank Limited                
Investec Corporate Finance
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