THE BIDVEST GROUP LIMITED - RESULT OF SCHEME MEETING

THE BIDVEST GROUP LIMITED - RESULT OF SCHEME MEETING                            
The Bidvest Group Limited                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1946/021180/06)                                            
Share code: BVT ISIN code: ZAE 000008132                                        
("Bidvest" or "the Group")                                                      
RESULT OF SCHEME MEETING                                                        
* Dinatla"s acquisition of 45 million Bidvest shares (approximately 15% of the  
issued share capital) approved by shareholders                                  
* Following Court approval, Dinatla to become the largest single shareholder in 
Bidvest                                                                         
* Important step forward in realising Bidvest"s objectives for sustainable BEE  
* Dinatla is a broad-based empowerment consortium owned by entrepreneurial black
businesses countrywide and the Bidvest Dinatla Trust                            
* Core Dinatla shareholders have existing relationships with Bidvest and have   
proven their value-add to the Group                                             
* Bidvest looks forward to strengthening relationships with the regional        
participants in Dinatla                                                         
* Dinatla"s objectives aligned with all Bidvest"s stakeholders                  
* Shareholding at Group level to avoid potential conflicts of interest at       
operational level                                                               
No encumbrance on Bidvest balance sheet                                         
* Bidvest positioned for improved participation in private and public sector    
opportunities, providing an enhanced platform for growth                        
* Bidvest BEE strategy is to deliver true BEE influence in line with the DTI    
Strategy for Broad-Based Black Economic Empowerment                             
Johannesburg                                                                    
November 10th  2003                                                             
Brian Joffe, Bidvest Executive Chairman, commented:                             
"We are delighted that shareholders have approved the scheme of arrangement     
which is now only subject to the sanction of the Court later this month.        
This innovative and unique transaction was created to deliver broad based       
empowerment and to make a sustainable contribution to the social and economic   
transformation that is so desperately needed in South Africa. Dinatla, our BEE  
partner, has very broad based representation both nationally and regionally.    
Going forward, we are committed to developing the Bidvest Charter, including    
objectives for employment equity, enterprise development, skills  development,  
and affirmative procurement. We are working hard with Dinatla to achieve these  
objectives and a number of initiatives have already been implemented.           
We are excited about the additional growth prospects that our new status will   
bring both in the private and public sectors thus securing a firm place for     
Bidvest in the South African economy of the future."                            
Tania Slabbert, Dinatla Investment Holdings, commented:                         
"We are thrilled by the result of the scheme meeting. We are looking forward to 
partnering Bidvest in the years ahead to help bring meaningful value to the     
Group as well as helping to develop Bidvest"s BEE transformation."              
Enquiries:                                                                      
The Bidvest Group Limited          Tel: (011) 772 8700                          
Brian Joffe, Executive Chairman                                                 
Jack Hochfeld, Investor relations  Tel: (011) 772 8705                          
David Cleasby, Investor relations  Tel: (011) 772 8706                          
Dinatla                                                                         
Tania Slabbert                     Tel: (011) 442 2777                          
Lionel Jacobs                      Tel: (011) 519 8430                          
Tanja Glavovic                     Tel: (082) 901 0327                          
College Hill South Africa          Tel:  (011) 447 3030                         
Nicholas Williams                                                               
Johannes van Niekerk                                                            
Date: 10/11/2003 12:48:03 PM Supplied by www.sharenet.co.za                     
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