ITALTILE-LAPSING OF AGREEMENT TO ACQUIRE PEPKOR'S CASHBUILD INTEREST

ITALTILE LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 55/00558/06)
("ITALTILE")

LAPSING OF AGREEMENT TO ACQUIRE PEPKOR LIMITED'S ("PEPKOR") ENTIRE SHAREHOLDING
IN, AND CLAIMS AGAINST, CASHBUILD LIMITED ("CASHBUILD".)

FURTHER TO THE ANNOUNCEMENT BY ITALTILE DATED 22 JUNE 1999 ("THE DETAILED
ANNOUNCEMENT") IN WHICH IT WAS STATED THAT, SUBJECT TO THE FULFILMENT OF
CERTAIN CONDITIONS, AGREEMENT HAD BEEN REACHED BETWEEN ITALTILE AND PEPKOR FOR
THE ACQUISITION OF PEPKOR'S ENTIRE SHAREHOLDING IN, AND CLAIMS AGAINST,
CASHBUILD ("THE AGREEMENT"), SHAREHOLDERS ARE ADVISED THAT THE BOARD OF
ITALTILE DID NOT GIVE UNCONDITIONAL APPROVAL FOR THE ACQUISITION. CONSEQUENTLY,
IN ACCORDANCE WITH THE CONDITIONS SET OUT IN THE DETAILED ANNOUNCEMENT, THE
AGREEMENT HAS LAPSED.

ACCORDINGLY, SHAREHOLDERS ARE ADVISED THAT CAUTION IS NO LONGER REQUIRED WHEN
DEALING IN THEIR ITALTILE SHARES.
JOHANNESBURG
23 JULY 1999
MERCHANT BANK
BRAIT
BRAIT MERCHANT BANK LIMITED
(REGISTRATION NUMBER 60/03893/06)
ATTORNEYS

RABIN, VAN DEN BERG & PELKOWITZ MALLINICKS ATTORNEYS
SPONSORING BROKER
BRAIT
BRAIT SECURITIES (PROPRIETARY) LIMITED
(MEMBER OF THE JOHANNESBURG STOCK EXCHANGE)
(REGISTRATION NUMBER 87/01383/07)