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Argent Industrial Limited - Dealing In Securities By Directors                  
ARGENT INDUSTRIAL LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1993/002054/06)                                            
(Share code: ART  ISIN:  ZAE000019188)                                          
(`Argent` or `the Company`)                                                     
DEALING IN SECURITIES BY DIRECTORS                                              
In terms of paragraph 3.63 - 3.74 of the Listing Requirements of the JSE        
Securities Exchange South Africa, the following information, relating to the    
dealing in securities by directors, is disclosed:                               
Director                      Donovan Smith                                     
Transaction date              23 November 2004                                  
Class of securities           Ordinary shares                                   
Strike price                  925 cents                                         
Number of securities          8000                                              
Total value                   R74 000                                           
Nature of transaction         Disposal                                          
Extent of interest            Direct beneficial                                 
Clearance to deal obtained    Yes                                               
Maraisburg                                                                      
24 November 2004                                                                
Sponsor                                                                         
LPC Manhattan Sponsors (Pty) Limited

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