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Vogelstruisbult. (VOGS)


Wednesday 19 April, 2000


Further re Liquidation

Vogelstruisbult Metal Hldgs Limited
19 April 2000

(Registration number 05/04346/06)
(Incorporated in the Republic of South Africa)
('Vogels' or 'the company')

The board of directors of Vogels has previously indicated its view that the
best way to unlock the remaining value in Vogels is to liquidate the company.
Shareholders are advised that the board has now resolved to commence the
liquidation process.

Subject to the necessary consents being obtained, it is anticipated that an
advance liquidation distribution of R15 per share will be paid to shareholders
on or about 30 June 2000. The last date for shareholders to be registered to
participate in the advance liquidation distribution will be announced in due

19 April 2000

Rand Merchant Bank
Corporate Finance
A Division of FIRSTRAND Bank Limited
Registration number 05/01225/06

Sponsoring broker
Standard Equities (Proprietary) Limited
(Registration number 1972/008305/07)
(Member of the Johannesburg Stock Exchange)

Legal adviser
Bowman Gilfillan Inc.
Reg. No. 98/21409/21


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