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Tue 1 Feb 2005, 11:38 RESULTS OF GENERAL MEETING
AVASA HOLDINGS LIMITED - RESULTS OF GENERAL MEETING                             
AVASA HOLDINGS LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/013637/06)                                            
Share code: AVA   ISIN: ZAE000040622                                            
(`AVASA` or `the company`)                                                      
RESULTS OF GENERAL MEETING                                                      
At a general meeting of AVASA shareholders held today, shareholders approved,   
inter alia:                                                                     
- the specific issue of 240 000 000 new AVASA shares at 1,5 cents per share to  
Mark Barnes, the company`s Chairman, raising capital of R3,6 million; and       
- the change of name to Purple Capital Limited.                                 
Shareholders are reminded of the following dates pertaining to the name change: 
                                                                          2005  
Last day to trade before the name change on                Friday, 18 February  
Shares will trade in the new name on (note 2)              Monday, 21 February  
Record date for the name change on                         Friday, 25 February  
Share certificates reflecting the new name posted on       Monday, 28 February  
CSDP/Broker accounts reflecting the new                                         
name updated on                                           Monday, 28 February  
Notes:                                                                          
1. Share certificates may not be dematerialised or rematerialised between       
Monday, 21 February 2005 and Friday, 25 February 2005, both days inclusive.     
2. The shares will trade in the new JSE code `PPE`, ISIN ZAE000063897 and       
abbreviated name `Purple` on Monday, 21 February 2005.                          
Johannesburg                                                                    
1 February 2005                                                                 
Corporate advisor and transaction sponsor                                       
   BRIDGE CAPITAL                                                               
Sponsor                                                                         
   JAVACAPITAL
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