Acquisition by CEPPWAWU Pharmaceutical Investments (Proprietary) Limited of

a stake in Aspen
Aspen Pharmacare Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/003382/06)
Share code APN   ISIN ZAE000023586
("Aspen")
Ceppwawu Investments (Pty) Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/022473/07)
("CEPPWAWU Investments")

Acquisition by CEPPWAWU Pharmaceutical Investments (Proprietary) Limited of
a stake in Aspen
1. INTRODUCTION

   Investec Bank Limited is authorised to announce that agreement has been
reached in terms of which an investment company, CEPPWAWU Pharmaceutical
Investments (Proprietary) Limited, a wholly-owned subsidiary of CEPPWAWU
Investments, will acquire 26 666 667 Aspen shares, being approximately 7,24%
of the Aspen shares in issue, from certain existing Aspen shareholders ("the
empowerment transaction").
2. THE EMPOWERMENT TRANSACTION
   2.1  Rationale for the empowerment transaction

        Aspen recognises the importance of transformation and black

empowerment in South Africa and, accordingly, has focused on identifying an
empowerment partner with the right fit for its business. It is expected that
the empowerment transaction will meet the following objectives set by Aspen
in formulating its strategy of introducing a black empowerment shareholder:
        - the empowerment transaction will be a meaningful step in Aspen
meeting its commitment to transformation and black empowerment in South
Africa;

        - CEPPWAWU Investments represents the interests of CEPPWAWU, the
trade union representing organised labour within Aspen's South African based
operations. Through the empowerment transaction and the introduction of
CEPPWAWU Investments as an Aspen shareholder, Aspen's unionised employees
will become stakeholders in Aspen with a direct interest in the performance
of Aspen;

        -  Aspen's reach in the pharmaceutical market may be further

increased by leveraging off the buying patterns of pharmaceutical and
healthcare products required by CEPPWAWU's 70 000-strong membership; and
        - CEPPWAWU Investments will actively engage in seeking strategic
alliances to enhance Aspen's business.
   2.2  Details relating to CEPPWAWU Investments

        CEPPWAWU currently has approximately 70 000 members and is a

Congress of South African Trade Unions ("COSATU") affiliated union with
membership representation in key economic sectors, including

pharmaceuticals. CEPPWAWU Investments, which is wholly-owned by The CEPPWAWU
Development Trust, was established as an investment company by CEPPWAWU in
order to promote the economic empowerment of its members. Accordingly,
CEPPWAWU Investments' focus is on socially responsible companies with strong
management, committed to the development of the South African economy and
where CEPPWAWU Investments can add value thereby realising the commercial
and social benefits associated with long-term partnerships.
Woodmead
31 January 2002
Merchant bank to Aspen
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Attorneys to Aspen
Werksmans Incorporated
Sponsor to Aspen
Investec Securities Limited
Member of the JSE
(Registration number 1972/008905/06)
Attorneys to CEPPWAWU
Mallinicks Attorneys
(Registration number 1984/008670/21)