Aspen/Peu - Announcement

Aspen/Peu - Announcement                                                        
Aspen Pharmacare Holdings     Peu Investment Group (Pty)                        
Limited                       Limited                                           
(Incorporated in the Republic (Incorporated in the Republic                     
of South Africa)              of South Africa)                                  
(Registration number          (Registration number                              
1987/003382/06)               1996/003899/07)                                   
(Share code: APN)             ("Peu")                                           
(ISIN Code: ZAE000023586)                                                       
("Aspen" or "the company")                                                      
Acquisition by Peu Health (Proprietary) Limited ("Peu Health") of an equity     
interest in Aspen                                                               
Investec Bank Limited is authorised to announce that Peu Health, a wholly owned 
subsidiary of Peu, has acquired 21 300 000 ordinary shares in Aspen, being      
approximately 5,72% of the Aspen ordinary shares in issue, from certain existing
Aspen shareholders.                                                             
Peu is a wholly black owned and managed investment holding company. Since its   
incorporation in 1996 Peu has developed a strong track record in terms of its   
tangible contribution, at a strategic and operational level, to the growth and  
development of its underlying strategic investments that include Capital        
Alliance Holdings Limited and Fleet Africa (Proprietary) Limited (formerly Super
Fleet (Proprietary) Limited). Peu Health has been incorporated as a wholly owned
subsidiary of Peu. However, it is intended that Peu will dilute its interest in 
Peu Health in order to accommodate the Instika Enablement Trust, a broad-based  
black economic empowerment entity, as a significant shareholder of Peu Health.  
Aspen recognises the importance of black economic empowerment in South Africa   
and is committed to the continued transformation of Aspen at all levels of the  
business, including ownership. The process of transformation of Aspen at        
ownership levels commenced in January 2002 when CEPPWAWU Pharmaceutical         
Investments (Proprietary) Limited ("CEPPWAWU"), a wholly-owned subsidiary of    
CEPPWAWU Investments (Proprietary) Limited, acquired approximately 7,24% of the 
Aspen ordinary shares in issue.                                                 
CEPPWAWU remains a key shareholder of Aspen and will work with Peu Health to    
continue to drive transformation within Aspen and assist the company in terms of
efforts to enhance the business of Aspen. Accordingly Aspen welcomes the        
introduction of Peu Health as a shareholder of Aspen and believes that Peu      
Health has the required skills and experience to make a meaningful contribution 
to the continued growth and development of the business of Aspen.               
Woodmead                                                                        
13 December 2002                                                                
   Merchant bank                     Attorneys to Peu Sponsor to Aspen          
   Investec Corporate Finance        Edward Nathan    Investec Securities       
Date: 13/12/2002 04:35:18 PM Supplied by www.sharenet.co.za                     
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