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RAND LEASES PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No. 1978/000870/06)
("Rand Leases" or "the Company")
Cautionary announcement:
BoE  Securities  Limited  is  authorised to announce  that  Rand  Leases  is
involved  in  negotiations, which, if successfully  concluded,  may  have  a
material  effect on the price at which the Company's linked units  trade  on
the JSE Securities Exchange SA.
Shareholders  are therefore advised to exercise caution  when  dealing  in
their Rand Leases linked units until a further announcement is made.
Johannesburg
07 June 2001

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