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Wed 19 Jun 2002, 0:00 Real Africa Holdings Limited - Further Cautionary
Real Africa Holdings Limited - Further Cautionary Announcement                  
Real Africa Holdings Limited       Real Africa Investments Limited              
(Registration number               (Registration number 1994/000398/06)         
1994/003919/06)                    ("RAI")                                      
("RAH")                            Share code: RAI                              
Share code: RAH                    ISIN: ZAE000008710                           
ISIN:ZAE000008702                                                               
Further to the cautionary announcement dated 8 May 2002, RAH and RAI            
shareholders are advised that discussions with regard to the process to         
unlock shareholder value are still in progress.                                 
Shareholders of RAH and RAI are therefore advised to continue to exercise       
caution in dealing in their RAH and RAI shares pending further announcements    
in this regard.                                                                 
Houghton                                                                        
19 June 2002                                                                    
Merchant Bank and Sponsor                                                       
Standard Corporate and Merchant Bank                                            
(A division of The Standard Bank of South Africa Limited)                       
(Registration number 1962/000738/06)                                            
Corporate Law Advisers and Consultants       Independent Merchant Bank          
Edward Nathan & Friedland (Pty) Ltd          Rand Merchant Bank                 
Corporate Finance                                                               
(Registration Number 1999/026464/07)    (Registration Number 1929/001225/06)    
Date: 19/06/2002 04:00:00 PM Produced by the SENS Department                    

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