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Mon 31 Oct 2005, 8:02 Grindrod Limited - Warrants Notice
Grindrod Limited - Warrants Notice                                              
Grindrod Limited                                                                
GRINDROD LIMITED WARRANTS NOTICE                                                
Holders of the Warrants below are referred to the notice to shareholders of     
Grindrod Ltd, regarding the Grindrod Ltd corporate action.                      
Deutsche Bank AG will make the following adjustments to the terms and conditions
of the Warrants below: -                                                        
WAVES                                                                           
Code    ISIN Code      Type   Expiry    Previous    Adjusted  Previous  Adjusted
                                        Strike      Strike    Cover     Cover   
                                        Price       Price     Ratio     Ratio   
GNDDBA  ZAE000073227   AC     27/07/06  58.00       11.60     10        2       
The above adjustments will be made from the start of trading on 31 October 2005.
The effects of the adjustments will place the holders in the same position, had 
the corporate action not taken place.                                           
For further information contact Deutsche Securities (Pty) Limited, 3 Exchange   
Square, 87 Maude Street, Sandton: (Roger Koep - Tel (011) 775-7282 or e-mail    
roger.koep@db.com)                                                              
Date: 31/10/2005 08:02:05 AM Produced by the JSE SENS Department                
                                                                                
                                                                                
                                                                                
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