ARGENT - ADOPTION OF NEW EMPLOYEE SHARE OPTION SCHEME

ARGENT INDUSTRIAL LIMITED
REGISTRATION NUMBER 93/02054/06
("ARGENT" OR "THE COMPANY")

ADOPTION OF NEW EMPLOYEE SHARE OPTION SCHEME, INCREASE IN AUTHORISED SHARE
CAPITAL AND GENERAL AUTHORITY TO REPURCHASE THE COMPANY'S SHARES
1.  INTRODUCTION

MANHATTAN EQUITY IS AUTHORISED TO ANNOUNCE THAT THE DIRECTORS OF ARGENT HAVE
RESOLVED TO OBTAIN AUTHORITY FROM THE ORDINARY SHAREHOLDERS FOR:

1.1 AN AMENDMENT TO THE COMPANY'S ARTICLES OF ASSOCIATION TO ENABLE ARGENT,
SUBJECT TO THE JOHANNESBURG STOCK EXCHANGE LISTING REQUIREMENTS, TO:
-ADOPT A NEW SHARE OPTION SCHEME;
-INCREASE THE AUTHORISED SHARE CAPITAL; AND

-OBTAIN GENERAL AUTHORITY TO REPURCHASE THE COMPANY'S ORDINARY SHARES ON THE
JOHANNESBURG STOCK EXCHANGE.
2.  GENERAL MEETING OF SHAREHOLDERS

A GENERAL MEETING OF THE ORDINARY SHAREHOLDERS OF THE COMPANY WILL BE HELD AT
THE REGISTERED OFFICE OF THE COMPANY, 13 JACK PIENAAR STREET, GERMISTON SOUTH,
EXT 7 AT 12:30 ON FRIDAY, 25 AUGUST 2000 FOR THE PURPOSE OF CONSIDERING AND, IF
DEEMED FIT, PASSING, WITH OR WITHOUT MODIFICATION, THE REQUISITE RESOLUTIONS.
3.  CIRCULAR TO SHAREHOLDERS

A CIRCULAR PROVIDING THE DETAILS OF THE PROPOSALS AND INCORPORATING A NOTICE OF
GENERAL MEETING AND FORMS OF PROXY WAS POSTED TO SHAREHOLDERS ON 28 JULY 2000.
GERMISTON
22 AUGUST 2000
CORPORATE ADVISERS
SPONSORING BROKER
INDEPENDENT SECURITIES (PROPRIETARY) LIMITED
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
(REGISTRASION NUMBER 98/01650/07)