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Tue 11 Jan 2005, 15:05 SETTLEMENT OF INCOME TAX QUERIES
TRENCOR/MOBILE - SETTLEMENT OF INCOME TAX QUERIES                               
TRENCOR LIMITED                         MOBILE INDUSTRIES LIMITED               
(Incorporated in the Republic of South  (Incorporated in the Republic of South  
Africa)                                 Africa)                                 
(Registration no 1955/002869/06)        (Registration no 1968/014997/06)        
Share Code:             ISIN:           Share Code:                ISIN:        
TRE              ZAE000007506           MOB                 ZAE000004602        
TED2             ZAE000007282           MBN                 ZAE000012274        
(`Trencor`)                             MOBD                ZAE000004610        
                                        (`Mobile`)                              
SETTLEMENT OF INCOME TAX QUERIES                                                
It was announced on 22 December 2004 that Trencor and the Commissioner for the  
South African Revenue Service (`SARS`) had concluded an agreement (`the         
agreement`) that will dispose of the income tax queries raised by SARS on some  
of the group`s export partners relating to the tax treatment of their           
participation in the container export trade, subject to all of the relevant     
export partners agreeing to be bound by its terms.                              
Holders of securities in Trencor and Mobile are hereby advised that all of the  
relevant export partners have agreed to be bound by the terms of the agreement  
and, accordingly, the agreement has taken effect.                               
ON BEHALF OF THE BOARDS                                                         
NI JOWELL CHAIRMAN TRENCOR LIMITED                                              
C JOWELL  CHAIRMAN MOBILE INDUSTRIES LIMITED                                    
11 JANUARY 2005                                                                 
www.trencor.net                                                                 
www.mobile-industries.net                                                       
SPONSOR                                                                         
Rand Merchant Bank (a division of FirstRand Bank Limited) Corporate Finance
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