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Independent Financial Services Ltd - Dealings in Securities by Director         
Independent Financial Services Limited                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1950/037061/06)                                            
Share code:  IND    ISIN code:   ZAE000025300                                   
Dealings in Securities by Director                                              
In accordance with the requirements of paragraph 3.63 to 3.74 of the JSE        
Securities Exchange Listings Requirements, the following should be noted:       
Name of Director         :    JW Simpson                                        
Transaction Date         :    18-04-2005                                        
Class of shares          :    Ordinary                                          
Number of shares         :    5000                                              
Price per share          :    R0.35                                             
Nature of transaction    :    Sale                                              
Nature of interest       :    Direct Beneficial                                 
Approval obtained        :    Yes                                               
19 April 2005

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