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Wed 19 Jan 2005, 13:59 DEALING IN SECURITIES BY DIRECTORS
African Life - Dealing In Securities By Directors                               
African Life Assurance Company Limited                                          
(Incorporated in the Republic of South Africa)                                  
Registration number: 1911/003818/06                                             
JSE Share Code: AFI                                                             
ISIN Code:      ZAE000000246                                                    
(`African Life` or `the Company`)                                               
DEALING IN SECURITIES BY DIRECTORS                                              
In terms of paragraph 3.63 to 3.65 of the Listings Requirements of the JSE      
Securities Exchange South Africa (`Listings Requirements`), the following       
information is disclosed:                                                       
Director:                          J A Burbidge                                 
Date of transaction:               18 January 2005                              
Number of shares sold:             10 000                                       
Price per share:                   R20.00                                       
Total value of shares sold:        R198,694.80                                  
Class of shares:                   Ordinary                                     
Nature of transaction:             Sell of shares to settle loan obligations in 
                                   terms of the Share Purchase Scheme Trust     
Nature and extent of interest:     Direct interest                              
Prior written approval in terms of paragraph 3.66 of the Listings Requirements  
has been obtained.                                                              
Johannesburg                                                                    
19 January 2005                                                                 
Sponsor                                                                         
Merrill Lynch South Africa (Pty) Limited                                        
Date: 19/01/2005 01:15:04 PM                 
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