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Tue 12 Nov 2002, 13:41 AMB PRIVATE EQUITY PARTNERS LIMITED - CAUTIONARY A
AMB PRIVATE EQUITY PARTNERS LIMITED - CAUTIONARY ANNOUNCEMENT                   
ISIN Code  :  ZAE000026936                                                      
SHARE Code :  APP                                                               
AMB PRIVATE EQUITY PARTNERS LIMITED                                             
   (Incorporated in the Republic of South Africa)                               
   (Registration number 1998/015329/06)                                         
   Share code: APP     ISIN: ZAE000026936                                       
("AMB Partners")                                                             
Cautionary announcement                                                         
   African Merchant Bank Limited is authorised to announce that AMB Partners has
entered into negotiations which, if successfully concluded, may have a material 
effect on the price at which AMB Partners linked units trade. Unit holders in   
AMB Partners are therefore urged to exercise caution in their dealings in AMB   
Partners linked units until a full announcement is made in this regard.         
  Illovo                                                                        
12 November 2002                                                              
Merchant bank and corporate sponsor                                             
   African Merchant Bank Limited                                                
   Registered Bank                                                              
Registration number 1996/016470/06                                           
Date: 12/11/2002 12:57:30 PM Produced by the JSE SENS Department                
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