Repurchase of Securities

Oryx International Growth Fund Ld
16 March 2004


                              COMPANY ANNOUNCEMENT

                     Oryx International Growth Fund Limited

                         Re : Repurchase of Securities

16th March, 2004


The Board of Directors of Oryx International Growth Fund Limited wish to
announce that on 23rd February 2004 the Fund repurchased the following:

150,000 Ordinary Shares at a price of 147.5 pence per share

and on 27th February 2004:

130,000 Ordinary Shares at a price of 147.5 pence per share

Following the cancellation of these securities the following securities remain
outstanding:

Ordinary Shares:                                7,883,229
Convertible Unsecured Loan Stock 2005:          2,435,521
Warrants:                                       1,006,325



Enquiries :

Management International (Guernsey) Limited
Tamsin Hooton
Phone [phone]


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