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BONATLA PROPERTY HOLDINGS LIMITED - CAUTIONARY ANNOUNCEMENT                     
BONATLA PROPERTY HOLDINGS LIMITED                                               
   (Incorporated in the Republic of South Africa)                               
JSE code: BNT   ISIN: ZAE000013694                                           
   (Registration number 1996/014533/06)                                         
   ("Bonatla")                                                                  
CAUTIONARY ANNOUNCEMENT                                                         
Shareholders are advised that Bonatla has entered into negotiations, which if
successfully concluded, may have a material effect on the price of Bonatla      
shares.  Accordingly, shareholders are advised to exercise caution when dealing 
in Bonatla shares until a full announcement is made.                            
17 October 2002                                                               
Sponsor                                                                         
  Grant Thornton Kessel Feinstein                                               
  Corporate Sponsors                                                            
(Proprietary) Limited                                                         
Property asset manager                                                          
  Catalyst Property Asset Managers                                              
  (Proprietary) Limited                                                         
Date: 16/10/2002 05:20:00 PM Produced by the JSE SENS Department                

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