AFROX - RESULTS OF CAPITALISATION SHARE AWARD0

AFRICAN OXYGEN LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1927/000089/06)
("AFROX")

RESULTS OF CAPITALISATION SHARE AWARD AND RIGHT OF ELECTION TO RECEIVE THE
INTERIM CASH DIVIDEND OF 19,0 CENTS PER SHARE IN LIEU THEREOF

HSBC SECURITIES (SOUTH AFRICA) (PTY) LIMITED IS AUTHORISED TO ANNOUNCE THAT THE
RIGHT OF SHAREHOLDERS REGISTERED AT THE CLOSE OF BUSINESS ON THURSDAY, 15 JUNE
2000 TO ELECT TO RECEIVE THE INTERIM CASH DIVIDEND OF 19,0 CENTS PER ORDINARY
SHARE INSTEAD OF THE AWARD OF CAPITALISATION SHARES OF 1,770736 FOR EVERY 100
EXISTING SHARES HELD ("THE NEW ORDINARY SHARES"), CLOSED AT 12:00 ON FRIDAY, 21
JULY 2000.

ELECTIONS TO RECEIVE THE INTERIM CASH DIVIDEND OF 19,0 CENTS PER ORDINARY SHARE
WERE MADE IN RESPECT OF 238 813 601 ORDINARY SHARES RESULTING IN A TOTAL
DIVIDEND PAYMENT OF R45 374 584,19. ACCORDINGLY, 1 386 279 NEW ORDINARY SHARES
OUT OF A POSSIBLE 5 615 036 NEW ORDINARY SHARES ARE TO BE ISSUED PURSUANT TO
THE CAPITALISATION SHARE AWARD, BEING A 24,68% ACCEPTANCE OF SUCH AWARD.
FOLLOWING THE ISSUE OF THE NEW ORDINARY SHARES, THE ISSUED ORDINARY SHARE
CAPITAL OF AFROX WILL CONSIST OF 318 488 148 ORDINARY SHARES OF 5,0 CENTS EACH.
LISTING OF NEW ORDINARY SHARES

THE LISTING OF 1 386 279 NEW ORDINARY SHARES IN AFROX WILL COMMENCE ON THE
JOHANNESBURG STOCK EXCHANGE AND THE NAMIBIAN STOCK EXCHANGE WITH EFFECT FROM
THE COMMENCEMENT OF BUSINESS ON FRIDAY, 28 JULY 2000.
POSTING OF SHARE CERTIFICATES AND CHEQUES

SHARE CERTIFICATES IN RESPECT OF 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 FRIDAY, 28 JULY
2000.
JOHANNESBURG
28 JULY 2000
SPONSORING BROKER IN SOUTH AFRICA
HSBC SECURITIES (SOUTH AFRICA) (PTY) LIMITED
REG. NO. 1999/010899/07
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
SPONSORING BROKER IN NAMIBIA
PHILLIP JA VAN HEERDEN
MEMBER OF THE NAMIBIAN STOCK EXCHANGE
TRADING AS
HSBC SECURITIES (NAMIBIA) (PTY) LIMITED
REG. NO. 95/505