BCF - Bowler - Disposal of ordinary shares in and claims against AMCOS

BCF - Bowler - Disposal of ordinary shares in and claims against AMCOS          
              Cosmetics International (Proprietary) Limited                     
Bowler Metcalf Limited                                                          
REG NO :  1972/005921/06                                                        
SHARE CODE : BCF  ISIN CODE :ZAE000030797                                       
(Incorporated in the Republic of South Africa)                                  
("Bowler" or "the Company")                                                     
DISPOSAL OF ORDINARY SHARES IN AND CLAIMS AGAINST AMCOS COSMETICS INTERNATIONAL 
(PROPRIETARY) LIMITED ("AMCOS")                                                 
1.   INTRODUCTION                                                               
    Shareholders are advised that an agreement, dated 25 June 2007, has been    
signed between Bowler and Beige Holdings Limited ("Beige"), in terms of     
    which Bowler has disposed of its entire shareholding and loan accounts in   
    Amcos to Beige, with effect from 1 July 2007.  The disposal consideration   
    is to be settled by means of a cash payment of R6 522 448 and the issue of  
26 089 792 ordinary shares in Beige at an issue price of 25 cents, and a    
    further eighteen equal monthly payments, the value of which is subject to   
    the liquidation of the Amcos working capital as at 30 June 2007.            
2.   HISTORY AND NATURE OF BUSINESS OF AMCOS                                    
Amcos manufactures and packages cosmetics and toiletries in South Africa.   
    Bowler acquired an 80% shareholding in Amcos in 2003.                       
                                                                                
3.   RATIONALE FOR THE DISPOSAL                                                 
Amcos is loss making and not core to Bowler`s business.                     
4.   FINANCIAL EFFECTS OF THE DISPOSAL                                          
    There are no material financial effects arising from the disposal of Amcos. 
                                                                                
5.   CONDITIONS PRECEDENT                                                       
    The disposal is subject to the conclusion of final agreements, the          
    completion of a due diligence and Competition Commission approval.          
Cape Town                                                                       
11 July 2007                                                                    
Sponsor                                                                         
Sansara Financial Services (Pty) Limited                                        
Date: 11/07/2007 17:31:53 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.