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A fifth-year medical student desperately fought off a Great White at Miller's Point on Saturday, twice managing to scare it away.
But the shark attacked Henri Murray, 22, for a third time, locking its powerful jaws around the young man.
Murray and Piet van Niekerk, 23, were spear-fishing when the shark attacked.
Henri saw the shark and warned his friend that they should get out of the water, his father, George Murray, said on Sunday.
Van Niekerk shot the shark with his speargun, but it would not let go of Murray.
On Sunday, a severely traumatised Van Niekerk took part in the search for Henri's remains.
Henri's speargun, weight belt, diving goggles, snorkel and a flippers were found on Saturday.
The top of his red wetsuit washed ashore at Muizenberg. The keys to his car were in one of the suit's pockets.
"I was always a lot more worried when Henri went rock climbing." his father said
University of Stellenbosch student Henri Murray might have had a foreboding of the dreadful fate that awaited him when he went skin-diving with his friend, Piet van Niekerk, 23.
Speaking to the media for the first time since the attack that killed his best friend, Van Niekerk said: "Henri said that day he wouldn't mind being attacked by a shark because Miller's Point is notorious for shark attacks.
"But, I think he knew his time was near. I believe God took him away," said Van Niekerk about the June 4 tragedy.
He said that when the attack happened, "I was utterly helpless, but I could hear Henri's screams clearly.
"Within 30 seconds, it was all over."
Van Niekerk said they got into the water about 14:00 and Henri, 22, speared a galjoen about an hour later.
"Minutes later, he shouted 'A Great White is here; we have to get out'.
While we were trying to get ashore, the shark jumped out of the water next to us. He disappeared under the water again.
"At first, he snapped at Henri twice, but was unsuccessful because Henri fought him off.
"The third time the shark pulled him under the water. I dived beneath the water and I saw Henri's arms in the shark's mouth," said Van Niekerk.
He rushed to get help and someone called the National Sea Rescue Institute.
Van Niekerk said: "Ten minutes later, we went looking for Henri in a boat, but couldn't find him."