Howden Africa Holdings Limited - Disposal By Hahl Of Its 42% Shareholding In

Howden Africa Holdings Limited - Disposal By Hahl Of Its 42% Shareholding In    
Pump Brands (Proprietary) Limited ("PUMPS")                                     
Howden Africa Holdings Limited                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 1996/002982/06)                                            
Share code: HWN & ISIN: ZAE000010583                                            
("HAHL" or "the Company")                                                       
DISPOSAL BY HAHL OF ITS 42% SHAREHOLDING IN PUMP BRANDS (PROPRIETARY) LIMITED   
("PUMPS")                                                                       
1.   Introduction                                                               
1.1  Shareholders are advised that in terms of an agreement dated 10 October    
2005 between the Company and Contralesa Investment Holdings (Proprietary)       
Limited ("Contralesa"), HAHL is to dispose of its entire 42% shareholding in    
Pumps to Contralesa ("the Disposal") with effect from 10 October 2005, subject  
to the terms and conditions indicated in paragraph 2 below.                     
1.2  Pumps is a business involved in the design, manufacture, marketing and     
selling of pumps and related products into the local and African markets.       
2.   Terms and conditions pertaining to the Disposal                            
The Disposal is subject to the conditions that as a notifiable transaction in   
terms of the Competition Act, such necessary approval be obtained.              
The consideration to be received in terms of the Disposal is R25 085 340 in cash
together with interest thereon at 2% below prime reckoned from 1 July 2005, to  
the closing date, being the 5th business day following fulfilment of the        
condition referred to above (calculated to be at a maximum of R1 200 000).      
The cash proceeds arising from the disposal will be retained by the Company and 
added to the current cash resources.                                            
The disposal is subject to terms and conditions typical in transactions of such 
nature.                                                                         
3.   Pro Forma financial effects                                                
Based on the published interim financial results of HAHL for the period ended 30
June 2005, the pro forma financial effects of the disposal on HAHL"s earnings,  
headline earnings, net asset value and net tangible asset value per share are   
set out below.  The pro forma financial information has been prepared for       
illustrative purposes only and because of its nature may not give a true picture
of HAHL"s financial position and results of operations.  The pro forma financial
effects are the responsibility of the directors of HAHL.                        
                               Before the  After the    %                       
                               disposal    disposal     change                  
                               (1)         (2)                                  
Earnings per share             16.14       17.15        6.3                     
Headline earnings per share    16.65       17.65        6.0                     
Net Asset Value per share      182.26      182.26       -                       
Net Tangible Asset Value per   182.08      181.87       -                       
share                                                                           
Weighted average shares (`000) 65 729                                           
Number of shares (`000)        65 729                                           
Notes:                                                                          
1.   Based on published summarised unaudited results of HAHL for the six months 
ended 30 June 2005.                                                             
2.   Represents the financial effects of the disposal.                          
3.   Earnings and headline earnings effects are based on the assumption that the
disposal was effective 1 January 2005 and interest was earned on the proceeds   
from the disposal at an average after tax rate of 4.5% per annum.               
4.   Net asset and net tangible asset value effects are based on the assumption 
that the disposal was effective 30 June 2005.                                   
4.   Categorisation of the Disposal                                             
The Disposal is classified as a Category 3 transaction in terms of the Listings 
Requirements of JSE Limited.                                                    
11 October 2005                                                                 
Advisor and Sponsor to HAHL                                                     
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
(Registration number 1970/003711/07)                                            
Transaction advisor and Attorneys for Contralesa                                
Ngcebetsha Madlanga Attorneys                                                   
Date: 11/10/2005 05:51:08 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department