SPUR CORPORATION LIMITED - RESULT OF GENERAL MEETING                            
  SPUR CORPORATION LIMITED                                                        
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1998/000828/06)                                            
  Share code: SUR                                                                 
  ISIN: ZAE 000022653                                                             
  ("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 R210 048 350 to R197 844 246 being a
  capital distribution of R12 204 104 to shareholders in lieu of dividends,       
  representing 12,5 cents per share ("the distribution"), was unanimously approved
  by shareholders at the general meeting of shareholders held on Wednesday,       
  22 October 2003.                                                                
  Salient dates for the distribution                                              
  The last date to trade in the company"s shares for purposes of entitlement to   
  the distribution is Friday, 31 October 2003.  The shares will commence trading  
  ex-distribution on Monday, 3 November 2003 and the record date is Friday,       
  7 November 2003.  The distribution will be effected on Monday, 10 November 2003.
  Share certificates may not be dematerialised or rematerialised between Monday,  
  3 November 2003 and Friday, 7 November both days inclusive.                     
  Cape Town                                                                       
  22 October 2003                                                                 
  Sponsor:                                                                        
  Barnard Jacobs Mellet Corporate Finance (Pty) Limited                           
  Independent reporting accountants:                                              
  KPMG Inc.                                                                       
  Attorneys:                                                                      
  Bernadt Vukic, Potash & Getz                                                    
  Date: 22/10/2003 02:04:02 PM Produced by the JSE SENS Department