Corporate Action

Tiger Brands Ld
29 March 2001

RESTRUCTURING AND UNBUNDLING
SECURITY TITLE
*Ord ZAR0.10
MNEMONIC CODE           *50OX
SEDOL CODE              *891-215
TERMS                   *The Company intends to restructure its agri-poultry
                         interests under a new holding company, Astral Foods
                         Limited.
     
                         The entire holding in Astral Foods will be distributed 
                         to its shareholders on the record date by way of a     
                         dividend in specie on the basis of:

                         For every 100 Ordinary Shares - 25 Shares of ZAR0.01 in

                         of ZAR0.10 in Tiger Brands.     Astral Foods.
PROVISIONAL EX DATE     *09-04-01
RECORD DATE             *06-04-01
DEALINGS COMMENCE       *09-04-01
NOTES *