ILLOVO SUGAR LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1906/000622/06)
("Illovo")
Further cautionary announcement regarding the acquisition by Illovo of Tate &
Lyle PLC's 50,87% interest in Zambia Sugar Plc
Further to the cautionary announcement dated 16 February 2001, ING Barings is
authorised to announce that the due diligence conditions precedent, in the
agreement between Zambia Sugar Plc's majority shareholder, Tate & Lyle PLC, and
Illovo in terms of which Illovo will acquire Tate & Lyle PLC's 50,87% interest
in Zambia Sugar Plc, have now been met. The transaction remains subject only to
approval by the Zambia Competition Commission, all other regulatory consents
having been obtained.
Illovo shareholders are accordingly advised to continue to exercise caution
when dealing in their Illovo shares until a further detailed announcement is
made.
Mount Edgecombe
13 March 2001
Financial adviser and sponsor
Ing Barings
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