PSG Group Limited - BEE TRANSACTION AND ISSUE OF SHARES FOR CASH (Amendment)

PSG Group Limited - BEE TRANSACTION AND ISSUE OF SHARES FOR CASH (Amendment)    
(Registration number 1970/008484/06)                                            
Share Code:    PSG                                                              
ISIN:     ZAE000013017                                                          
("PSG Group")                                                                   
BEE TRANSACTION AND ISSUE OF SHARES FOR CASH                                    
With reference to the announcement released on SENS yesterday at 14h50, kindly  
note that the following should have read as follows:                            
2.   Issue for cash                                                             
2.1  PSG Group has agreed to do an issue for cash (using its treasury stock) to 
enable the BEE company to acquire 10 million shares at a price equal to  921/2% 
of the 30 days weighted average trading price on the JSE up to 19 February 2004,
i.e. 348 cents per share representing 8.7% of PSG Group"s issued share capital. 
5.   Pro-forma financial effects                                                
The table below sets out the pro forma financial effects of the issue for cash  
on a PSG Group shareholder. The pro forma financial effects have been prepared  
for illustrative purposes only, and, because of their nature, may not give a    
true reflection of PSG Group"s financial position or results.                   
                                  6 Months ended 31 August                      
2003                                          

                                  Before     After   Change                     
                                  (cents)    (cents) %                          
     Earnings per share           5,1        6,0     17,6                       
Headline earnings per share  24,6       24,6    -                          
     Net asset value per share    410        423     3,2                        
     Net tangible asset value     331        348     5,1                        
     per share                                                                  
Assumptions:                                                                    
The pro forma financial effects ("before") are calculated on PSG"s interim      
results for the half year ended 31 August 2003, adjusted for the unbundling of  
Capitec Bank Holdings Limited ("Capitec") and 5 300 000 shares repurchased      
before 31 August 2003.                                                          
The pro forma financial effects ("after") are calculated on PSG"s interim       
results for the half year ended 31 August 2003, assuming:                       
* The accounting policies employed by PSG for the year ended 28 February 2003   
have been applied in making these calculations.                                 
* For the purposes of calculating the earnings and headline earnings related    
figures, it was assumed that the issue for cash was carried out on or before 1  
March 2003 and that PSG earned a 7% after-tax return on its cash.               
* All the calculations have been based on a weighted average number of shares in
issue of 120 783 000, after the issue for cash.                                 
* For the purposes of calculating the net asset and net tangible asset value, it
was assumed that the issue for cash was carried out on 31 August 2003, using the
number of shares in issue at that date of 115 000 000 (after the issue for      
cash).                                                                          
Date: 26/02/2004 11:43:00 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department