RESULTS OF OFFER TO SHAREHOLDERS AND DEBENTURE HOLDERS

AFRICAN OXYGEN LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 05/00089/06)
("AFROX")
AFROX HEALTHCARE LIMITED
(FORMERLY PRESIDENT MEDICAL INVESTMENTS LIMITED)
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 85/01313//06)
("AFROX HEALTHCARE")

RESULTS OF OFFER TO SHAREHOLDERS AND DEBENTURE HOLDERS OF AFROX HEALTHCARE
BOE MERCHANT BANK AND THE BUSINESS BANK, ARE AUTHORISED TO ANNOUNCE THAT THE
OFFER EXTENDED BY AFROX TO THE MINORITY SHAREHOLDERS AND DEBENTURE HOLDERS OF
AFROX HEALTHCARE TO ACQUIRE ALL OR ANY PART OF THEIR HOLDINGS IN AFROX
HEALTHCARE ("THE OFFER") CLOSED AT 14:30 ON FRIDAY, 1 OCTOBER 1999.

THE OFFER WAS ACCEPTED BY AFROX HEALTHCARE SHAREHOLDERS HOLDING 10 524 966
ORDINARY SHARES REPRESENTING 21,2% OF THE 49 599 993 ORDINARY SHARES WHICH WERE
THE SUBJECT OF THE OFFER AND AFROX HEALTHCARE DEBENTURE HOLDERS HOLDING 360 911
DEBENTURES REPRESENTING 25,0% OF THE 1 445 273 DEBENTURES WHICH WERE THE
SUBJECT OF THE OFFER. AS A RESULT OF THE ABOVE ACCEPTANCES, AFROX NOW HOLDS,
DIRECTLY AND INDIRECTLY, IN AGGREGATE 82,2% OF THE ISSUED SHARE CAPITAL AND
25,0% OF THE DEBENTURE CAPITAL OF AFROX HEALTHCARE.
JOHANNESBURG
5 OCTOBER 1999
MERCHANT BANKS
BOE MERCHANT BANK
A DIVISION OF BOE BANK LIMITED
CO. REG. NO. 51/00847/06
THE BUSINESS BANK
LEGAL ADVISERS
BOWMAN GILFILLAN INC.
REG. NO. 98/21409/21
DAYSON
SPONSORING BROKERS
HSBC SIMPSON MCKIE (PTY) LIMITED
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
REG. NO. 84/01736/07
HSBC WIKUS HANNEKOM
MEMBER NAMIBIAN STOCK EXCHANGE
TRADING AS
HSBC SECURITIES (NAMIBIA) (PTY) LIMITED
REG. NO. 95/505
PLJ VAN RENSBURG & PARTNERS INCORPORATED
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
REG. NO. 69/13227/21
BOE SECURITIES (PTY) LTD
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
CO. REG. NO. 96/15589/07
AUDITORS AND REPORTING ACCOUNTANTS
PRICEWATERHOUSECOOPERS INC.
(REGISTRATION NO. 98/12055/21)