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Tue 14 Dec 2004, 17:14 Finalisation Announcement
Avasa Holdings Limited - Finalisation Announcement                              
AVASA HOLDINGS LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/013637/06)                                            
Share code: AVA   ISIN: ZAE000040622                                            
Share code: AVAN   ISIN: ZAE000061701                                           
(`AVASA` or `the company`)                                                      
THE RIGHTS OFFER                                                                
THE NAME CHANGE                                                                 
Shareholders are referred to the announcement dated 9 December 2004 giving      
details of the salient dates and times pertaining to the proposed rights        
offer and specific issue of shares for cash (`the recapitalisation`).           
In this regard, the circular to AVASA shareholders containing details of        
the recapitalisation has been approved by the Registrar of Companies and        
therefore the dates as contained in the aforementioned announcement are         
confirmed.                                                                      
In addition, the company`s proposed new name, Purple Capital Limited, has       
been reserved by the Registrar of Companies pending approval by                 
shareholders in general meeting.                                                
Johannesburg                                                                    
15 December 2004                                                                
Corporate advisor and transaction sponsor                                       
   BRIDGE CAPITAL                                                               
Sponsor                                                                         
   JAVACAPITAL
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