CULLINAN HOLDINGS LIMITED - DIRECTORS DEALINGS

CULLINAN HOLDINGS LIMITED - DIRECTORS DEALINGS                                  
Code: CUL                                                                       
In accordance with the requirements of paragraphs 3.72 to 3.75 of the Listings  
Requirements of the JSE Securities Exchange South Africa, the following should  
be noted:                                                                       
Director                    : Anton A Thompson                                  
Date of transaction         : 23 July 2002                                      
Price                       : 4 cents per share                                 
Number of shares            : 3 500 000                                         
Class of security           : Options on ordinary shares                        
Nature of transaction       : Exercise of option                                
Extent of interest          : Beneficial                                        
Director                    : Quentin A Southey                                 
Date of transaction         : 25 July 2002                                      
Price                       : 4 cents per share                                 
Number of shares            : 2 000 000                                         
Class of security           : Options on ordinary shares                        
Nature of transaction       : Exercise of options                               
Extent of interest          : Beneficial                                        
Date: 08/08/2002 01:00:00 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department