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Wed 1 Dec 2004, 12:41 Pals - Retirement of Managing Director
Pals - Retirement of Managing Director                                          
PALS HOLDINGS LIMITED                                                           
(Incorporated in the Republic of South Africa)                                  
(Registration number 1987/002753/06)                                            
Share Code: PAL  ISIN: ZAE000005237                                             
(`Pals` or `the company`)                                                       
Shareholders are advised that Mr. Harold Noik, joint managing director, of the  
company has retired with effect from 25 November 2004.                          
Mr Noik has been with the company for 20 years.  The Board wishes him well in   
his retirement and thanks him for his service over the years.                   
Cape Town                                                                       
1 December 2004                                                                 
Sponsor                                                                         
Sasfin Corporate Finance                                                        
a division of Sasfin Bank Limited                                               
Date: 01/12/2004 12:24:55 PM                     
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