PSG Group Limited- Result of general meeting and implementation of the issue of

PSG Group Limited- Result of general meeting and implementation of the issue of 
shares for cash To PSG Group"s Bee Partner, Arch Equity Limited                 
PSG Group Limited                                                               
(Incorporated in the Republic of South Africa)                                  
(Registration Number 1970/008484/06)                                            
Share code:  PSG    ISIN:  ZAE000013017                                         
("PSG Group")                                                                   
Result of general meeting and implementation of the issue of shares for cash TO 
PSG GROUP"S BEE PARTNER, ARCH EQUITY LIMITED                                    
INTRODUCTION                                                                    
It was announced on SENS on 21 September 2004 and in the press on 22 September  
2004 that, subject to shareholder approval, PSG Group would proceed with an     
issue of shares for cash to PSG Group"s BEE partner, Arch Equity Limited ("Arch 
Equity") so as to result in Arch Equity holding a 20% shareholding in PSG Group.
Details of the proposed issue of PSG Group shares were also contained in a      
circular to PSG Group shareholders issued on 19 October 2004.                   
RESULT OF GENERAL MEETING                                                       
At the general meeting of PSG Group shareholders held at 09:00 on Wednesday, 3  
November 2004, the required ordinary resolution was passed to authorise the     
issue of 4 675 000 PSG Group shares ("the new PSG Group shares") for cash to    
Arch Equity Limited ("Arch Equity") at an issue price of 314 cents per share,   
i.e. a total cash consideration of R14,7 million ("the issue for cash").        
listing of the new PSG Group shares                                             
The JSE Securities Exchange South Africa has granted a listing of the new PSG   
Group shares, with effect from Monday 8 November 2004.                          
Stellenbosch                                                                    
3 November 2004                                                                 
Corporate Adviser and Joint     Lead Sponsor                                    
Sponsor                                                                         
PSG Capital                     PriceWaterhouseCoopers                          
                                CORPORATE FINANCE( PTY) LTD                     
Legal Advisers      Independent Expert   Reporting Accountants                  
                    NewFound             PriceWaterhouseCoopers                 
Hofmeyr                                  Inc                                    
Date: 03/11/2004 04:44:36 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department