UNION ALLIANCE MEDIA LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1998/015575/06
Share code UAM ISIN ZAE000024535
("UAM" or "the group")
PROFIT WARNING AND CAUTIONARY ANNOUNCEMENT
UAM shareholders are referred to the report of the directors contained in
the annual report in respect of the 18 months ended 30 June 2001, in terms
of which certain irregularities had been identified within the franchise
division ("division") of its 81% held subsidiary, Twilight Advertising and
Entertainment Channel (Proprietary) Limited trading as Q4 Media ("Q4"), and
that the division was to be discontinued.
It has subsequently transpired that the irregularities have affected Q4's
entire operation to the extent that it is to be put into liquidation at the
insistence of Q4's bankers.
UAM shareholders must accordingly exercise caution in dealing in their UAM
shares until the full impact of the pending liquidation of Q4, together with
the quantification of the difficult trading conditions experienced by the
group in respect of the six-month period ended 31 December 2001 have been
finalised.
A further announcement in this regard will be made on or before 15 February
2002.
Johannesburg
23 January 2002
Sponsor
LPC Manhattan Sponsors (Pty) Ltd
(Registration number 1999/024792/07)
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