TRUWORTHS - RESULTS OF CAPITALISATION AWARD

TRUWORTHS INTERNATIONAL LIMITED
("TI")

RESULTS OF CAPITALISATION AWARD AND RIGHT OF ELECTION TO RECEIVE A FINAL
DIVIDEND OF 6.5 CENTS PER SHARE IN LIEU THEREOF

THE RIGHT OF ORDINARY SHAREHOLDERS REGISTERED AT THE CLOSE OF BUSINESS ON
FRIDAY, 4 SEPTEMBER 1998 TO ELECT TO RECEIVE THE FINAL CASH DIVIDEND OF 6.5
CENTS PER ORDINARY SHARE ("THE ORDINARY SHARES") INSTEAD OF THE AWARD OF
CAPITALISATION SHARES, CLOSED AT 12:00 ON FRIDAY, 2 OCTOBER 1998.

ELECTIONS TO RECEIVE THE FINAL CASH DIVIDEND OF 6.5 CENTS PER ORDINARY SHARE
WERE MADE IN RESPECT OF 150 916 301 ORDINARY SHARES RESULTING IN THE

DECLARATION OF A TOTAL DIVIDEND OF R9 813 628.  ACCORDINGLY, 8 664 671 NEW
ORDINARY SHARES ("THE NEW ORDINARY SHARES") OUT OF A POSSIBLE 13 360 931 NEW
ORDINARY SHARES ARE TO BE ISSUED PURSUANT TO THE CAPITALISATION SHARE AWARD,
BEING A 64.9% ACCEPTANCE OF SUCH AWARD.

FOLLOWING THE ISSUE OF THE NEW ORDINARY SHARES THE ISSUED ORDINARY SHARE
CAPITAL OF TI WILL CONSIST OF 438 190 278 ORDINARY SHARES OF 0.015 CENT EACH.
LISTING OF NEW ORDINARY SHARES

THE LISTING OF 8 664 671 NEW ORDINARY SHARES IN TI WILL COMMENCE ON THE
JOHANNESBURG STOCK EXCHANGE AND THE NAMIBIAN STOCK EXCHANGE FROM THE

COMMENCEMENT OF BUSINESS ON MONDAY, 12 OCTOBER 1998.
POSTING OF SHARE CERTIFICATES AND CHEQUES

SHARE CERTIFICATES IN RESPECT OF THE NEW ORDINARY SHARES AND CHEQUES IN RESPECT
OF DIVIDENDS AND/OR PAYMENTS IN LIEU OF FRACTIONAL ENTITLEMENTS TO NEW ORDINARY
SHARES WILL BE POSTED TO THE RELEVANT SHAREHOLDERS ON OR ABOUT MONDAY, 12
OCTOBER 1998.
CAPE TOWN
9 OCTOBER 1998