PSG RESULT OF GENERAL MEETING

PSG GROUP LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 70/08496/06)
("PSG" OR "THE COMPANY")

AT THE GENERAL MEETING OF SHAREHOLDERS OF PSG HELD ON FRIDAY, 29 OCTOBER 1999,
THE FOLLOWING ORDINARY RESOLUTION WAS PASSED BY THE REQUISITE MAJORITY OF
SHAREHOLDERS:

RESOLVED THAT IN ACCORDANCE WITH THE PROVISIONS OF SECTION 90 OF THE COMPANIES
ACT, 1973 (ACT 61 OF 1973), AS AMENDED, AND ARTICLE 94 OF THE COMPANY'S
ARTICLES OF ASSOCIATION, WITH EFFECT FROM THE CLOSE OF BUSINESS ON THE LAST DAY
TO REGISTER BEING, FRIDAY, 5 NOVEMBER 1999, THE COMPANY9S SHARE PREMIUM
ACCOUNT, WHICH PRESENTLY STANDS AT R726 396 542 BE REDUCED TO R710 144 050 BY
WRITING OFF AGAINST SUCH ACCOUNT AN AMOUNT OF R16 252 492 AND DISTRIBUTING SAME
TO SHAREHOLDERS REGISTERED AS SUCH AT THE RATE OF 12 CENTS PER SHARE.
STELLENBOSCH
29 OCTOBER 1999
INVESTMENT BANK
PSG INVESTMENT BANK
ATTORNEYS
HOFMEYR HERBSTEIN GIHWALA CLUVER & WALKER INC
SPONSORING BROKERS
PSG SECURITIES LIMITED
(REGISTRATION NUMBER 98/00509/06)
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE)
WARBURG DILLON READ
(REGISTRATION NUMBER 95/11140/07)
A SUBSIDIARY OF UBS AG
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE