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Wed 15 Dec 2004, 10:47 Director's dealing in securities
Wilson Bayly Holmes - Ovcon Ltd - Director`s dealing in securities              
Wilson Bayly Holmes - Ovcon Ltd                                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1982/011014/06)                                            
Share code:  WBO   ISIN: ZAE000009932                                           
Director`s dealing in securities                                                
In compliance with rule 3.63 - 3.74 of the JSE listing requirements we advise   
you of the following transaction:                                               
Name of Director         :    B G Holmes                                        
Date                     :    15 December 2004                                  
Class                    :    Ordinary shares in Wilson Bayly Holmes - Ovcon Ltd
Number                   :    999 000 (nine hundred and ninety nine thousand    
Nature                   :    Collar                                            
Details                  :    Deal  1                                           
                              15/12/04 - 15/11/06                               
Strike Put 22.50                                  
                              Call Strike R35.53                                
                              Number of options 333,000                         
                              Deal 2                                            
15/12/04 - 15/12/06                               
                              Strike Put 22.50                                  
                              Call Strike R35.78                                
                              Number of options 333,000                         
Deal 3                                            
                              15/12/04 - 15/02/07                               
                              Strike Put 22.50                                  
                              Call Strike 36.25                                 
Number of options 333,000                         
Extent of interest       :    Shares owned by Mr Holmes` family company of which
                              he may be regarded as the beneficial owner        
Clearance was obtained.                                                         
15 December 2004                                                                
Sponsor:                                                                        
Investec Bank Limited                                                           
Date: 15/12/2004 10:44:06 AM                    
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