ARGENT INDUSTRIAL LIMITED - EXERCISE OF SHARE OPTIONS BY DIRECTORS

ARGENT INDUSTRIAL LIMITED - EXERCISE OF SHARE OPTIONS BY DIRECTORS              
ARGENT INDUSTRIAL LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1993/002054/06)                                            
(Share code: ART        ISIN:  ZAE000019188)                                    
("Argent" or "the Company")                                                     
EXERCISE OF SHARE OPTIONS BY DIRECTORS                                          
LPC Manhattan Sponsors (Pty) Limited is authorised to announce that as at 13    
December 2004, the following directors have exercised share options in the      
Company :                                                                       
Director  Allot    Allot   Allot    Allot   Allot  Total    Value               
at       at      at       at      at     allotted allotted            
          R0.90    R1.91   R2.51    R3.44   R9.20                               
PH        9 450    2 200   4 706    40 000         56 356   R162 119.06         
Lawson                                                                          
M Allen                    5 000    15 000         20 000   R64 150.00          
All options were exercised on ordinary shares, and clearance was obtained prior 
to the exercising of the options.  The shares are directly and beneficially     
held.                                                                           
The table below sets out the resultant directors" interests in the share capital
of Argent:                                                                      
 Director                Number of          Percentage                          
                         ordinary shares    shareholding                        
held                                                   

 AF Litchka              10 000             0.015%%                             
 D Smith                 37 848             0.042%                              
 MJ Antonic              285 462            0.43%                               
PH Lawson               131 712            0.19%                               
 T R Hendry              511 547            0.76%                               
 S Cox                   127 424            0.19%                               
 T Scharrighuisen        10 648 925         15.9%                               
M Allen                 25 000             0.04%                               
 G Youngman              109 160            0.16%                               
 P.A Day                 59 980             0.09%                               
Maraisburg                                                                      
20 December 2004                                                                
Sponsor                                                                         
LPC Manhattan Sponsors (Pty) Limited                                            
Date: 20/12/2004 11:38:38 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department