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Mon 16 Jan 2006, 16:37 Independent Financial Services Limited - Results O
IND
 IND                                                                             
Independent Financial Services Limited - Results Of The Offer To IFS            
Shareholders                                                                    
Independent Financial Services Limited                                          
Incorporated in the Republic of South Africa                                    
(Registration number 1950/037061/06)                                            
Share code: IND   ISIN: ZAE000025300                                            
("IFS")                                                                         
RESULTS OF THE OFFER TO IFS SHAREHOLDERS                                        
IFS shareholders are referred to the circular dated 20 December 2005 containing 
details of the offer to IFS shareholders by a consortium led by Mr Des Rosen to 
acquire all of the ordinary shares in IFS that it does not already own, for a   
purchase consideration of 8.82 cents per share.                                 
The offer closed on Friday, 13 January 2006 and was accepted in respect of 113  
362 shares, which represents 0.3% of the issued share capital of IFS. The       
consortium led by Des Rosen now owns 26 753 362 shares in IFS, being 79% of the 
issued shares in IFS.                                                           
Johannesburg                                                                    
16 January 2006                                                                 
Corporate advisor and sponsor                                                   
Java Capital (Proprietary) Limited                                              
Date: 16/01/2006 04:37:52 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
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