Murray & Roberts Holdings Limited - Acquisition of strategic interest in Clough

Murray & Roberts Holdings Limited - Acquisition of strategic interest in Clough 
Limited                                                                         
Murray & Roberts Holdings Limited                                               
Registration number 1948/029826/06                                              
("Murray & Roberts" or the "Group")                                             
Share code: MUR                                                                 
ISIN code: ZAE000008983                                                         
Acquisition of strategic interest in Clough Limited                             
Shareholders are referred to an announcement released on 26 August 2004 through 
the Securities Exchange News Services (SENS") of the JSE Securities Exchange    
South Africa ("JSE") where it was stated that Murray & Roberts had reached      
agreement, subject to certain conditions precedent, to acquire a strategic      
interest in leading Australian engineering and contracting group Clough Limited 
("Clough").                                                                     
The Group is pleased to advise that all regulatory conditions precedent have    
been satisfied and that the requisite approval for the proposed transaction was 
obtained from Clough shareholders at its annual general meeting ("AGM") held on 
Wednesday 10 November 2004. Messrs BC Bruce and N Jorek, both executive         
directors of the Group, were approved as non-executive directors of Clough at   
the AGM, subject to completion of the transaction.                              
The transaction has been effected today, in terms of which McRae Investments    
(representing the Clough family interests in Clough) disposed of 60 million     
Clough shares to Murray & Roberts for a consideration of AUD40.8 million and    
Murray & Roberts has acquired a further 60 million new Clough shares issued by  
Clough also for a consideration of AUD40.8 million. This increases the Group"s  
shareholding in Clough from 4.9% to 29.3%. Murray & Roberts and McRae have been 
authorised to enter a shareholders" agreement that gives them a relevant        
interest in 63.9% of Clough"s shares.                                           
The Group will pursue the creep provisions as permitted by the Australian Stock 
Exchange ("ASX") which should result in its shareholding in Clough increasing   
above 50% over the next three to four years.                                    
Johannesburg                                                                    
11 November  2004                                                               
Sponsor to Murray & Roberts:  Merrill Lynch South Africa (Pty) Limited          
Date: 11/11/2004 09:18:00 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department