Exxaro Resources Limited - Implementation of the empowerment transaction

Exxaro Resources Limited - Implementation of the empowerment transaction        
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")                                                     
Implementation of the empowerment transaction                                   
1. Introduction                                                                 
Exxaro shareholders are referred to the circular dated 9 October 2006           
("circular") relating to the empowerment transaction and are advised that all of
the transaction steps set out in the circular have been implemented.            
2. Change of name                                                               
In terms of a special resolution registered by the Companies and Intellectual   
Property Registration Office on 2 November 2006, the company"s name was changed 
to Exxaro Resources Limited with effect from 2 November 2006. The change of name
was effective on the JSE Limited ("JSE") from Monday, 27 November 2006 and trade
in Exxaro shares under the short name "Exxaro", share code "EXX" and ISIN       
ZAE000084992 commenced on this date.                                            
3. Pro rata repurchase of Exxaro shares                                         
In terms of the pro rata repurchase, Exxaro made an offer to Exxaro shareholders
to repurchase 38 331 012 Exxaro shares, pro rata to their shareholding, at a    
price of R45,99 per Exxaro share. Exxaro shareholders were afforded the         
opportunity to tender excess Exxaro shares into the pro rata repurchase to the  
extent that some Exxaro shareholders elected not to participate in the pro rata 
repurchase.                                                                     
Exxaro received acceptances in respect of 38 331 012 Exxaro shares. Exxaro      
shareholders who tendered excess shares into the pro rata repurchase have had   
such excess applications accepted in full. Anglo South Africa Capital           
(Proprietary) Limited ("ASAC") sold 38 143 561 Exxaro shares in terms of the pro
rata repurchase to ensure that the maximum number of Exxaro shares was          
repurchased.                                                                    
Cheques in respect of the pro rata repurchase consideration will be posted, by  
ordinary post, at the risk of the certificated Kumba shareholders concerned, to 
certificated Exxaro shareholders, and dematerialised Exxaro shareholders will   
have had their accounts at their CSDP or broker updated and credited on Tuesday,
28 November 2006.                                                               
4. Issues for cash                                                              
In terms of specific authorities granted to the company at the general meeting, 
Exxaro issued:                                                                  
65 334 843 to Main Street 333 (Proprietary) Limited ("BEE Holdco") at a price of
R29,86 per Exxaro share; and                                                    
10 618 974 Exxaro shares to the Exxaro Employee Empowerment Participation Scheme
Trust at a price of R16,41 per Exxaro share.                                    
The full details and financial effects of the specific issues of shares for cash
are included in the circular.                                                   
Pretoria                                                                        
28 November 2006                                                                
Merchant bank and joint sponsor                                                 
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Lead sponsor                                                                    
JP Morgan Equities Limited                                                      
Attorneys                                                                       
Deneys Reitz Inc.                                                               
Corporate law advisers                                                          
CLS Consulting Services (Proprietary) Limited                                   
Date: 28/11/2006 04:00:04 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department