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CHESTER INVESTMENT HOLDINGS LIMITED - CAUTIONARY ANNOUNCEMENT                   
(Incorporated in the Republic of South Africa)                                  
(Registration number 1983/005300/06)                                            
Share code:  CES    ISIN ZAE 000013348                                          
("Chester")                                                                     
Cautionary announcement                                                         
Chester shareholders are advised that proposals are being considered which, if  
implemented, may have an effect on Chester`s share price.                       
Chester shareholders are accordingly advised to exercise caution when dealing in
their shares until a further announcement is made.                              
Johannesburg                                                                    
12 July 2002                                                                    
Sponsor and investment bank                                                     
PSG INVESTMENT BANK                                                             
Date: 12/07/2002 05:10:00 PM Produced by the JSE SENS Department

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