TRUWORTHS FOLLOW UP ANNOUNCEMENT REGARDING PROFITS

TRUWORTHS INTERNATIONAL LIMITED
(REGISTRATION NUMBER 05/17491/06)
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
("TI" OR "THE GROUP")

FURTHER TO THE ANNOUNCEMENT OF 13 JULY 1999 TI ADVISES THAT DESPITE A STRONG
PERFORMANCE FROM CORE SUBSIDIARY TRUWORTHS, THE GROUP WILL REFLECT A MATERIAL
DECLINE IN HEADLINE EARNINGS PER SHARE FOR THE YEAR ENDED 30 JUNE 1999 COMPARED
TO THE PRIOR YEAR.

TI'S PRELIMINARY RESULTS WILL BE RELEASED ON 19 AUGUST 1999 AFTER FINALISATION
OF EXTERNAL AUDIT PROCEDURES. IT HAS BEEN ESTABLISHED HOWEVER, THAT TRUWORTHS
HAS POSTED A MATERIAL INCREASE IN HEADLINE EARNINGS, AND AUSTRALIAN SUBSIDIARY
SPORTSGIRL A MATERIAL LOSS FOR THE YEAR.

THE SPORTSGIRL LOSS VARIED SUBSTANTIALLY FROM MONTHLY MANAGEMENT REPORTS
PROVIDED TO TI BY SPORTSGIRL OPERATIONAL MANAGEMENT. THE MAIN CONTRIBUTORIES
WERE INVENTORY WRITE OFFS ARISING FROM ERRORS IN THE RECONCILIATION PROCESS AND
POOR LAST QUARTER SALES.

A NUMBER OF SIGNIFICANT STEPS HAVE ALREADY BEEN TAKEN BY TI'S MANAGEMENT TO
ADDRESS CRITICAL ISSUES AT SPORTSGIRL INCLUDING THE APPOINTMENT OF A

SUBSTANTIALLY NEW EXECUTIVE TEAM. THIS TEAM WILL BE LED BY AN AUSTRALIAN BASED
MANAGING DIRECTOR WHO HAS ENJOYED A PROVEN TRACK RECORD WITH TRUWORTHS.
A FULL EVALUATION OF STRATEGIC AND RESTRUCTURING PROPOSALS DESIGNED TO DEVELOP
A SUSTAINABLE RETAIL PROFIT FORMULA IS CURRENTLY UNDERWAY.
INVESTORS WILL BE KEPT INFORMED.
16 AUGUST 1999
CAPE TOWN