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Afrox Healthcare/African Oxygen Limited - Update on the Competition Tribunal

Release Date: 10/09/2004 17:04:45      Code(s): AFX AHH
Afrox Healthcare/African Oxygen Limited - Update on the Competition Tribunal    
Afrox Healthcare Limited                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1985/001313/06)                                           
Share code: AHH                                                                 
ISIN: ZAE000022059                                                              
   Business Venture Investments No. 790 (Proprietary) Limited                   
(Incorporated in the Republic of South Africa)                                  
(Registration number: 2003/002733/07)                                           
African Oxygen Limited                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1927/000089/06)                                            
JSE Share code: AFX                                                             
NSX Share code: AOX                                                             
ISIN: ZAE000030920                                                              
THE COMPETITION TRIBUNAL HEARINGS                                               
As announced on 21 July 2004, the Competition Tribunal (the "Tribunal") was     
scheduled to resume the hearing in respect of the merger of Bidco and Ahealth,  
pursuant to which Bidco will acquire all of the shares in Ahealth ("the         
Merger"), on 15 September 2004.                                                 
At a meeting on 8 September 2004, convened by the Tribunal, the Tribunal        
expressed the view that further days, in addition to the period set down for the
hearing in September, would be required to complete the hearing.  In addition,  
Bidco advised the Tribunal that it intended filing further witness statements   
and certain revised documents.  Accordingly, it was held by the Tribunal that a 
further period of 15 (fifteen) consecutive days should be set aside for the     
hearing of the Merger, with 2 (two) additional days to be set aside for final   
argument by the parties.                                                        
The Tribunal and the parties determined that the first available uninterrupted  
period of 15 (fifteen) consecutive days would commence on 24 January 2005.      
Accordingly, the Tribunal held that the hearing on the Merger will resume on 24 
January 2005 and continue until 11 February 2005.  The dates of 14 and 15 March 
2005 have been set aside for closing argument.                                  
The scheme of arrangement in terms of Section 311 of the Companies Act, No. 61  
of 1973, as amended, proposed by Bidco between Ahealth and its shareholders for 
the implementation of the Merger, is subject to the fulfilment of the condition,
on or before 30 September 2004, that all approvals required from the Competition
Commission and Tribunal for the implementation of the scheme be obtained ("the  
Competition Condition").  Bidco, Ahealth and Afrox are currently engaged in     
discussions regarding the extension of the date for fulfilment of the           
Competition Condition.  A further announcement on the outcome of these          
discussions will be made.                                                       
10 September 2004                                                               
Sponsor to Afrox                                                                
Barnard Jacobs Mellet                                                           
Corporate Finance                                                               
Sponsor to Ahealth                                                              
NEDBANK CAPITAL                                                                 
Date: 10/09/2004 05:04:55 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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