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Thu 22 Sep 2005, 16:00 Phumelela Gaming and Leisure Limited - Reduction o
Phumelela Gaming and Leisure Limited                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1997/016610/06)                                            
Share code:  PHM & ISIN: ZAE000039269                                           
REDUCTION OF SHARE PREMIUM                                                      
Shareholders  are  advised  that a circular was  posted  to  shareholders  today
advising  that  the directors of Phumelela have proposed the  reduction  of  the
share  capital,  subject  to the approval of Phumelela shareholders  in  general
meeting,  by repaying to shareholders from the company`s share premium  account.
The distribution announcement will be released on SENS on Thursday, 29 September
2005.                                                                           
Payments in respect of the distribution will be made to shareholders on  Monday,
24  October 2005, recorded in the register on Friday, 21 October 2005. The  last
day to trade will be Friday, 14 October 2005 and Phumelela shares starts trading
ex distribution on Monday, 17 October 2005.                                     
22 September 2005                                                               
Johannesburg                                                                    
Sponsor                                                                         
Investec Bank Limited                                                           
Date: 22/09/2005 03:45:18 PM
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