BELL - RESULTS OF GENERAL MEETING

RESULTS OF GENERAL MEETING ANNOUNCEMENT
BELL EQUIPMENT LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 68/13656/06)
("BELL")
RESULTS OF GENERAL MEETING ANNOUNCEMENT

SHAREHOLDERS ARE ADVISED THAT AT THE GENERAL MEETING HELD AT 10:00 ON THURSDAY,
29 APRIL 1999, THE FOLLOWING SPECIAL AND ORDINARY RESOLUTIONS RELATING TO:
- THE ALLOTMENT AND ISSUE OF 30 000 000 ORDINARY SHARES OF NO PAR VALUE
("ORDINARY SHARES") IN THE SHARE CAPITAL OF BELL, FOR CASH, AT A PRICE OF
US$0.95 (WHICH HAS BEEN COVERED FORWARD AT US$1 = R6,32) PER BELL ORDINARY
SHARE TO JOHN DEERE CONSTRUCTION EQUIPMENT COMPANY INC;

- THE INCREASE IN BELL'S AUTHORISED SHARE CAPITAL BY THE CREATION OF AN
ADDITIONAL 100 000 000 ORDINARY SHARES; AND

- THE PLACING OF THE UNISSUED SHARE CAPITAL UNDER THE CONTROL OF THE DIRECTORS
OF BELL UNTIL THE NEXT ANNUAL GENERAL MEETING;

WERE PASSED BY THE REQUISITE MAJORITY OF SHAREHOLDERS PRESENT AND/OR VOTING BY
PROXY. THE SPECIAL RESOLUTION HAS BEEN LODGED WITH THE REGISTRAR OF COMPANIES.
AS THE FULL PROCEEDS HAVE BEEN RECEIVED, THE ADDITIONAL 30 000 000 ORDINARY
SHARES WERE LISTED ON THE JOHANNESBURG STOCK EXCHANGE WITH EFFECT FROM THE
COMMENCEMENT OF BUSINESS ON FRIDAY, 30 APRIL 1999.
RICHARDS BAY
3 MAY 1999
INVESTMENT BANK AND CORPORATE ADVISER
REAL AFRICA DUROLINK INVESTMENT BANK LIMITED
(REGISTRATION NUMBER 87/05258/06)
DELOITTE & TOUCHE
ATTORNEYS
CHAPMAN DYER INC
(REGISTRATION NUMBER 79/00929/21)
SPONSORING BROKER
FLEMING MARTIN SECURITIES LTD
REGISTRATION NUMBER 95/11815/06
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE