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FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement, dated 13 November 2001, shareholders
are advised that negotiations are still in progress, which, if successfully
concluded, may have a material effect on the price of the company's
securities.  Accordingly, shareholders are advised to continue exercising
caution when dealing in the company's securities until a full announcement
is made.
D Oram              HSBC
Company Secretary   Phillip JA van Heerden
Independence Ave.   Member of the NSX
P O Box 239         Trading as
Windhoek            HSBC Securities Namibia
Namibia             Registration no: 95/505
Windhoek, 7 January 2002
Sponsor in South Africa:  HSBC Investment Services (Africa) (Pty) Ltd
Sponsoring broker in Namibia:  Phillip JA van Heerden t/a HSBC Securities
(Namibia) (Pty) Ltd



 

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