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AFR
 AFR                                                                             
AFR - AFGRI Limited - Cautionary Announcement                                   
AFGRI LIMITED                                                                   
(Incorporated in the Republic of South Africa)                                  
Registration number: 1995/004030/06                                             
Share Code: AFR                                                                 
(ISIN: ZAE000040549)                                                            
("AFGRI" or "the company")                                                      
CAUTIONARY ANNOUNCEMENT                                                         
Shareholders are advised that the AFGRI Board is evaluating the possible        
unbundling and separate listing of the Products division, the full impact of    
which is currently being determined and may have an effect on the share price.  
Accordingly, shareholders are advised to exercise caution when dealing in the   
company`s securities until a full announcement is made.                         
Johannesburg                                                                    
16 May 2007                                                                     
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 16/05/2007 11:52:01 Produced by the JSE SENS Department.

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