Mvelaphanda Group Limited - Issue Of A Further 2 700 000 Convertible, Perpetual,

Mvelaphanda Group Limited - Issue Of A Further 2 700 000 Convertible, Perpetual,
Cumulative Preference Shares                                                    
MVELAPHANDA GROUP LIMITED                                                       
(formerly Rebserve Holdings Limited)                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1995/004153/06)                                            
Ordinary share code: MVG   ISIN: ZAE000060737                                   
Preference share code: MVGP   ISIN: ZAE000073540                                
("Mvela")                                                                       
ISSUE OF A FURTHER 2 700 000 CONVERTIBLE, PERPETUAL, CUMULATIVE                 
PREFERENCE SHARES                                                               
Mvela is pleased to announce that, further to the announcement dated 3 November 
2005 and the issue of 52 000 000 convertible, perpetual, cumulative preference  
shares ("preference shares") by way of a private placement on 4 November 2005   
("the private placement"), The Standard Bank of South Africa Limited ("Standard 
Bank") has exercised the option ("the option") granted to Standard Bank in its  
capacity as the underwriter to the private placement, and will subscribe for 2  
700 000 preference shares ("the new preference shares") at an issue price of R10
per preference share. The new preference shares will rank pari passu with the   
existing 52 million issued preference shares.                                   
The exercise of the option will result in an increase in the number of issued   
preference shares from 52 000 000 to 54 700 000 and an increase in the total    
capital raised from R520 million (before expenses) to R547 million (before      
expenses). The new preference shares will be listed on the JSE Limited on or    
about Friday, 9 December 2005.                                                  
Lead manager and transaction          Lead sponsor                              
sponsor                                                                         
STANDARD BANK                         DEUTSCHE BANK                             
Sandton                                                                         
5 December 2005                                                                 
Date: 05/12/2005 05:12:17 PM Supplied by www.sharenet.co.za                     
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