ANNOUNCEMENT TO SHAREHOLDERS - PETMIN

PETMIN
PETRA MINING LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 72/01062/06)
("PETMIN")
ANNOUNCEMENT TO SHAREHOLDERS

FURTHER TO THE PRESS ANNOUNCEMENT ON 24 DECEMBER 1997 AND THE DETAILED CIRCULAR
DATED 8 DECEMBER 1997, PW CORPORATE FINANCE (PROPRIETARY) LIMITED ARE
AUTHORISED TO ANNOUNCE THAT:

1. JIC MINING AND CONSTRUCTION (PROPRIETARY) LIMITED ("JIC") AND PETRA BLACK
GRANITE (PROPRIETARY) LIMITED ("PETRA BLACK") DISPOSALS.

ALL CONDITIONS PRECEDENT TO THE JIC AND PETRA BLACK DISPOSALS HAVE BEEN
FULFILLED AND PETMIN HAS TAKEN DELIVERY OF BOTH THE MOLOPE FOODS LIMITED
("MOLOPE") "N" ORDINARY SHARE AND CASH CONSIDERATIONS.

2. OFFER TO MINORITY SHAREHOLDERS OF PETMIN BY PRETKLERK BELEGGINGS (EIENDOMS)
BEPERK ("PRETKLERK").

PRETKLERK HAS TAKEN DELIVERY OF THE NECESSARY MOLOPE "N" ORDINARY SHARES TO
FULFIL ITS OFFER TO THE MINORITY SHAREHOLDERS OF PETMIN. THE HOLDERS OF 5 970
000 PETMIN ORDINARY SHARES (21% OF PETMIN ISSUED SHARE CAPITAL) HAVE TAKEN UP
THE OFFER TO MINORITY SHAREHOLDERS AND THEIR MOLOPE "N" ORDINARY SHARE
CERTIFICATES WILL BE MAILED ON OR BEFORE 5 FEBRUARY 1998.
PRETORIA
20 JANUARY 1998
SPONSORING BROKER
BOE NAT WEST SECURITIES LIMITED
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
REGISTRATION NUMBER 95/12240/06
CORPORATE ADVISOR
PW CORPORATE FINANCE (PTY) LIMITED
REGISTRATION NUMBER 70/03711/07