TRUWORTHS RESULTS OF CAPITALISATION SHARE AWARD AND ELECTION

TRUWORTHS INTERNATIONAL LIMITED
(REGISTRATION NUMBER 1944/017491/06)
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
("TI")

RESULTS OF CAPITALISATION SHARE AWARD AND ELECTION IN RESPECT OF THE CASH
PAYMENT OF 6,0 CENTS PER SHARE IN LIEU THEREOF
INTRODUCTION

THE RIGHT OF TI'S SHAREHOLDERS REGISTERED AT THE CLOSE OF BUSINESS ON FRIDAY, 3
MARCH 2000 TO ELECT TO RECEIVE A CASH PAYMENT OF 6,0 CENTS PER SHARE INSTEAD OF
CAPITALISATION SHARES, CLOSED AT 12:00 ON FRIDAY, 31 MARCH 2000.
RESULTS

ELECTIONS TO RECEIVE THE CASH PAYMENT OF 6,0 CENTS PER SHARE WERE MADE IN
RESPECT OF 220 130 529 SHARES, BEING 48,79% OF TI'S ISSUED CAPITAL, RESULTING
IN A TOTAL CASH PAYMENT OF R13 207 832 BY THE UNDERWRITER. PURSUANT TO THE
CAPITALISATION SHARE AWARD, 5 699 799 SHARES ARE TO BE ISSUED UTILISING TI'S
SHARE PREMIUM ACCOUNT.
ISSUE PRICE AND RATIO

THE CAPITALISATION SHARES ARE TO BE ALLOTTED AND ISSUED AT A PRICE OF 0,015
CENT EACH, IN THE RATIO OF 1,263428 SHARES FOR EVERY 100 TI SHARES HELD
("CAPITALISATION SHARE RATIO"). THE WEIGHTED AVERAGE TRADED PRICE OF TI SHARES
ON THE JOHANNESBURG STOCK EXCHANGE ("JSE") FOR THE TEN BUSINESS DAYS ENDING AT
THE CLOSE OF BUSINESS ON THURSDAY, 30 MARCH 2000 WAS 508,141236 CENTS EACH,
WHICH PRICE WAS USED TO DETERMINE THE CAPITALISATION SHARE RATIO.

THE EFFECTIVE PRICE AT WHICH THE CAPITALISATION SHARES HAVE BEEN AWARDED IS
474,898451 CENTS EACH, CALCULATED AS FOLLOWS:
    CASH PAYMENT PER 100 SHARES       600 CENTS
    CAPITALISATION SHARE RATIO        1,263428

FOLLOWING THE ISSUE OF THE CAPITALISATION SHARES, THE ISSUED CAPITAL OF TI WILL
CONSIST OF 456 837 379 SHARES OF 0,015 CENT EACH.
LISTING OF CAPITALISATION SHARES

THE LISTING OF 5 699 799 CAPITALISATION SHARES IN TI WILL COMMENCE ON THE JSE
AND THE NAMIBIAN STOCK EXCHANGE WITH EFFECT FROM THE COMMENCEMENT OF TRADING ON
MONDAY, 10 APRIL 2000.
POSTING OF SCRIP AND CHEQUES

CERTIFICATES IN RESPECT OF THE CAPITALISATION SHARES, AND CASH PAYMENT AND
FRACTIONAL ENTITLEMENT CHEQUES, WHERE APPLICABLE, WILL BE POSTED TO
SHAREHOLDERS ON MONDAY, 10 APRIL 2000.
BY ORDER OF THE BOARD

                                       REGISTERED OFFICE

C DURHAM                               SRG HOUSE, 1 MOSTERT STREET

COMPANY SECRETARY                      CAPE TOWN, 8001

10 APRIL 2000                          (P O BOX 600, CAPE TOWN, 8000)