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Tue 4 Dec 2001, 0:00 Ifs - Cautionary Announcement
INDEPENDENT FINANCIAL SERVICES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1950/037061/06)
(Share code: IND    ISIN code: ZAE 000 25300)
("IFS")
CAUTIONARY ANNOUNCEMENT
IFS shareholders are advised that negotiations are taking place regarding
the acquisition by IFS of a financial services and investment business.
These negotiations, if successfully concluded, may have a material effect on
IFS's share price.
IFS shareholders are accordingly advised to exercise caution in dealing in
their shares until a further announcement is made.
Johannesburg
5 December 2001
Sponsor
PSG INVESTMENT BANK HOLDINGS LIMITED
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