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Wed 13 Jul 2005, 8:19 CASH DISTRIBUTION
Real Africa Holdings Limited                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 1994/003919/06)                                            
Share code: RAH                                                                 
ISIN: ZAE000008702                                                              
(`RAH` or `the Company`)                                                        
CASH DISTRIBUTION                                                               
The RAH Board has, in terms of the authority granted to directors at the general
meeting held on 11 April 2003, resolved to distribute R371 757 625 to           
shareholders.                                                                   
Notice is hereby given that the company will distribute out of share premium an 
amount of 100 cents per RAH share.                                              
The salient dates for the cash distribution are as follows:                     
Last day to trade `cum` the distribution                                        
Friday, 29 July 2005        
Shares to commence trading `ex` the distribution    Monday, 1 August 2005       
Record date                                         Friday, 5 August 2005       
Payment date                                        Monday, 8 August 2005       
Share certificates may not be dematerialised or rematerialised between Monday, 1
August 2005 and Friday, 5 August 2005, both days inclusive.                     
In terms of the requirements of the Companies Act, the directors confirm that   
after the payment of the distribution, the Company will be able to pay its debts
as they become due in the ordinary course of business, and its consolidated     
assets, fairly valued, will exceed its consolidated liabilities.                
Bryanston                                                                       
13 July 2005                                                                    
Merchant bank and sponsor                                                       
Rand Merchant Bank                                                              
A division of FirstRand Bank Limited                                            
Date: 13/07/2005 07:30:05 AM                 
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