Afrox - Results Of Capitalisation Share Award

Afrox - Results Of Capitalisation Share Award                                   
AFRICAN OXYGEN LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1927/000089/06)                                            
ISIN Code: ZAE000030920                                                         
South African Share Code: AFX                                                   
Namibian Share Code: AOX                                                        
("Afrox" or "the Company")                                                      
RESULTS OF CAPITALISATION SHARE AWARD AND RIGHT OF ELECTION TO RECEIVE THE      
INTERIM CASH DIVIDEND OF 25,5 CENTS PER SHARE IN LIEU THEREOF                   
HSBC Investment Services (Africa) (Pty) Limited is authorised to announce that  
the right of shareholders recorded in the share register of Afrox at the close  
of business on Friday, 26 July 2002 to elect to receive the interim cash        
dividend of 25,5 cents per ordinary share instead of the award of capitalisation
shares of 1.95853 for every 100 existing shares held ("the new ordinary         
shares"), closed on Wednesday, 24 July 2002.                                    
Elections to receive the interim cash dividend of 25,5 cents per ordinary share 
were made in respect of 82 561 457 ordinary shares resulting in a total dividend
payment of R21 053 171,53. Accordingly, 4 758 852 new ordinary shares out of a  
maximum of 6 375 837 new ordinary shares are to be issued pursuant to the       
capitalisation share award, being a 74,6% acceptance of such award. Following   
the issue of the new ordinary shares, the issued ordinary share capital of Afrox
will consist of 330 300 808 ordinary shares of 5 cents each.                    
Listing of new ordinary shares                                                  
The listing of 4 758 852 new ordinary shares in Afrox will commence on the JSE  
Securities Exchange South Africa and the Namibian Stock Exchange with effect    
from the commencement of business on Wednesday, 31 July 2002.                   
Issue of shares and payment of interim cash dividend                            
In respect of dematerialised shareholders, safe custody accounts with the       
Central Securities Depository Participant or broker were credited with the      
entitlement in respect of the new ordinary shares and / or payments on Monday,  
29 July 2002. Certificated shareholders` share certificates or cheques were     
posted (or electronically transferred, if so elected) on Monday, 29 July 2002.  
Johannesburg                                                                    
29 July 2002                                                                    
Sponsor in South Africa                                                         
HSBC                                                                            
Sponsoring broker in Namibia                                                    
HSBC Securities (Namibia) (Pty) Limited                                         
Member Namibian Stock Exchange                                                  
Date: 29/07/2002 05:27:23 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department