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Fri 27 Jul 2001, 0:00 Rand Leases Properties Limited - Further Cautionar
Further  to the cautionary announcement dated 7 June 2001, shareholders  are
advised  that  the Company remains in negotiations, which,  if  successfully
concluded, may have an effect on the price of the Company's linked units.
Accordingly,  shareholders are advised to continue exercising  caution  when
dealing in their Rand Leases linked units until a full announcement is made.
Johannesburg
27 July 2001
Coporate Advisor
BoE MerchantBank
Sponsor
BoE Securities

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