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Tue 16 Sep 2008, 10:00 MAF - Mutual & Federal Insurance Company Limited - Further cautionary
MAF
MAF                                                                             
MAF - Mutual & Federal Insurance Company Limited - Further cautionary           
announcement                                                                    
Mutual & Federal Insurance Company Limited                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1970/006619/06)                                           
JSE Share code: MAF                                                             
ISIN: ZAE000010823                                                              
NSX Share code: MTF                                                             
("the Company")                                                                 
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcement released on SENS on 5 August 2008,       
shareholders are advised that the competitive sale process initiated by Old     
Mutual Plc ("Old Mutual"), the Company`s controlling shareholder, relating to   
the sale of Old Mutual`s entire shareholding in the Company, is ongoing.        
Accordingly, shareholders are advised to continue to exercise caution when      
dealing in the Company`s securities until a detailed announcement is made.      
Johannesburg                                                                    
16 September 2008                                                               
Co-sponsors                                                                     
Merrill Lynch South Africa (Proprietary) Limited                                
Nedbank Capital                                                                 
Merchant bank and transactional sponsor                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 16/09/2008 10:00:02 Produced by the JSE SENS Department.                  
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