Labat - Issue of Shares to Share Incentive Scheme.

Labat - Issue of Shares to Share Incentive Scheme.                              
LABAT AFRICA LIMITED                                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1986/001616/06)                                            
JSE Share code: LAB  ISIN: ZAE000018354                                         
("Labat" or "the company")                                                      
Issue of Shares to Share Incentive Scheme.                                      
In terms of the Labat Africa Share Incentive Scheme ("the Scheme"), 4 866 667   
shares in Labat Africa Ltd ("the company") were issued to the Scheme on the 14th
June 1999 and were allotted to employees of the Labat group on the 14th February
2001 for purchase by them at the ruling price of the shares on that date which  
was 15 cents per share. In terms of the Scheme, the allotted shares have to be  
paid for by employees in 4 tranches. The first tranche comprising 20% of the    
allotted shares becomes payable on the 14th  February 2003. Employees are       
entitled to sell these shares but are bound to offer them to the company first. 
Any such offered shares will be purchased by the company at the closing price on
the JSE Securities Exchange on the day before acceptance of the offer by the    
company.                                                                        
12 February 2003                                                                
Sponsor                                                                         
Brait                                                                           
Date: 12/02/2003 05:12:46 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department