Spur Corporation Limited                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/000828/06)                                            
Share code : SUR                                                                
ISIN Code : ZAE000022653                                                        
("Spur" or "the company")                                                       
RESULT OF GENERAL MEETING                                                       
The directors of Spur announce that the ordinary resolution, authorising the    
reduction of the share premium account from R222 585 574 to R211 845 962 being a
capital distribution of R10 739 612 to shareholders in lieu of dividends,       
representing 11 cents per share ("the distribution"), was unanimously approved  
by shareholders at the general meeting of shareholders held on Monday, 7 April  
2003.                                                                           
Salient dates for the distribution                                              
The last date to trade in the company"s shares for purposes of entitlement to   
the distribution is Wednesday, 16 April 2003.  The shares will commence trading 
ex-distribution on Thursday, 17 April 2003 and the record date is Friday, 25    
April 2003.  The distribution will be effected on Tuesday, 29 April 2003.  Share
certificates may not be dematerialised or rematerialised between Thursday, 17   
April 2003 and Friday, 25 April 2003, both days inclusive.                      
Cape Town                                                                       
7 April 2003                                                                    
Sponsor                                 Independent reporting accountants       
Barnard Jacobs Mellet Corporate                                                 
Finance (Pty) Limited                   KPMG Inc.                               
Attorneys                                                                       
Bernadt Vukic, Potash & Getz