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EXX - Exxaro - News Release - Exxaro Increases Share Free Float To 25,7%

Release Date: 16/04/2007 11:18:00      Code(s): EXX
EXX - Exxaro - News Release - Exxaro Increases Share Free Float To 25,7%        
Exxaro Resources Limited                                                        
(Previously Kumba Resources Limited)                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number: 2000/011076/06)                                           
(Share code: EXX & ISIN: ZAE000084992)                                          
("Exxaro" or "the company")                                                     
NEWS RELEASE                                                                    
16 April 2007                                                                   
EXXARO INCREASES SHARE FREE FLOAT TO 25,7%                                      
Diversified resources group Exxaro Resources Limited (Exxaro) has announced the 
finalisation of the repurchase and placing of Exxaro ordinary shares in the     
market to exceed its target of at least a 25% free float.                       
A total of 19 million shares, representing 5,4% of the issued share capital of  
Exxaro on  3 April 2007, was placed through an accelerated bookbuild process.   
These shares were settled on 13 April 2007 and increased Exxaro`s free float to 
The 19 million shares comprise 10 million shares placed by Exxaro following a   
repurchase of 10 million shares by Exxaro from Anglo South Africa Capital       
(Proprietary) Limited (ASAC) as part of an option exercised on 4 April 2007 and 
implemented on 13 April 2007 and nine million shares placed by ASAC as part of  
its commitment to assist Exxaro in increasing its free float to above the       
targeted level.                                                                 
"We are pleased to have increased the number of Exxaro shares in the hands of   
public shareholders, exceeding the 20% minimum shareholder spread requirements  
set by the JSE Limited. We have exceeded our stated target of a 25% free float  
which will support the overall rating of the Exxaro share price," said Dr Con   
Fauconnier, Exxaro`s chief executive officer.                                   
The shares were placed at R64 per share, raising gross proceeds of R1,2 billion.
The share placement price represented a discount of 1,5% to the closing price of
Exxaro shares on the JSE Limited on 2 April 2007 which was used to price the    
offer. As the placing of the 10 million shares by Exxaro exceeded the exercise  
price of R45,99 per share stipulated in the option agreement, the net profits   
realised will be divided between ASAC and Exxaro, with ASAC receiving 66,6% and 
Exxaro 33,4%.                                                                   
Editor`s Note:                                                                  
Exxaro is a diversified resources group with interests in the coal, mineral     
sands, base metals, industrial minerals and iron ore commodities. www.exxaro.com
Trevor Arran                                                                    
Executive General Manager: Corporate Affairs & Investor Relations               
Tel: +27 (0) 12 307 3292                                                        
Mobile: +27 (0) 83 609 1444                                                     
Date: 16/04/2007 11:18:00 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  

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