ILLOVO SUGAR LIMITED - NOTICE OF GRANT OF OPTIONS LODGED WITH THE JSE SECURITIES

ILLOVO SUGAR LIMITED - NOTICE OF GRANT OF OPTIONS LODGED WITH THE JSE SECURITIES
EXCHANGE SOUTH AFRICA                                                           
ILLOVO SUGAR LIMITED                                                            
(Incorporated in the Republic of South Africa)                                  
Company registration number 1906/000622/06                                      
Share Code: ILV                                                                 
ISIN: ZAE000003547                                                              
("Illovo Sugar")                                                                
NOTICE OF GRANT OF OPTIONS LODGED WITH THE JSE Securities Exchange South Africa 
IN TERMS OF THE REVISED LISTINGS REQUIREMENTS RULES 3.63 to 3.74                
In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the  
JSE Securities Exchange South Africa, notice is hereby given that the following 
directors/company secretary/directors and company secretary of major            
subsidiaries were granted Illovo Sugar share options in terms of the provisions 
of the Illovo Sugar 1992 Share Option Scheme ("the Scheme") effective 2 June    
2004 at a price of R7,70 per ordinary Illovo Sugar share (being the closing     
market price of the shares on the preceding day); clearance having been given   
for the above by the designated director in terms of paragraph 3.66 of the      
Listings Requirements on 11 June 2004:                                          
Name:           Designation:                          Number of  Extent of      
                                                      options    Interest       
                                                      granted                   
D G MacLeod     Director - Illovo Sugar Limited       215 000    Directly       
beneficial     

G J Clark       Director - Illovo Sugar Limited       94 000     Directly       
                                                                 beneficial     
N M Hawley      Director - Illovo Sugar Limited       42 000     Directly       
beneficial     

M I Hlatshwayo  Director - Illovo Sugar Limited       36 000     Directly       
                                                                 beneficial     
J T Russell     Director - Illovo Sugar Limited       87 000     Directly       
beneficial     

B M Stuart      Director - Illovo Sugar Limited       94 000     Directly       
                                                                 beneficial     
G D Knox        Company Secretary - Illovo Sugar      33 000     Directly       
Limited                                          beneficial     

B M Stewardson  Director - The Sugar Corporation of   28 000     Directly       
                Malawi Limited                                   beneficial     
I G Parrott     Director - The Sugar Corporation of   14 000     Directly       
Malawi Limited                                   beneficial     

J M Moult       Director - Zambia Sugar Plc           21 000     Directly       
                                                                 beneficial     
R M L Katowa    Director - Zambia Sugar Plc           15 000     Directly       
beneficial     

L M Sievu       Company Secretary - Zambia Sugar Plc  10 000     Directly       
                                                                 beneficial     
Note: The Sugar Corporation of Malawi Limited and Zambia Sugar Plc are          
classified as major subsidiaries of Illovo Sugar Limited.                       
IN TERMS OF THE SCHEME, VESTING PERIODS FOR THE SHARE OPTIONS ARE 1/3 AFTER 3   
YEARS, 2/3 AFTER 4 YEARS, AND THE FULL ALLOCATION AFTER 5 YEARS, WITH THE       
MAXIMUM PERIOD FOR THE EXERCISING OF OPTIONS BEING 10 YEARS.                    
Johannesburg                                                                    
14 June 2004                                                                    
Sponsor                                                                         
Cazenove                                                                        
Date: 14/06/2004 05:20:56 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department