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Fri 20 Dec 2002, 12:36 Falcon Investment Holdings Socit Anonyme - Renew
Falcon Investment Holdings Socit Anonyme - Renewal of Cautionary              
Falcon Investment Holdings Socit Anonyme                                      
(Incorporated in Luxembourg - R.C. Number B39773)                               
("the Company")                                                                 
Share code: FLC  ISIN number: LU0042254812                                      
RENEWAL OF CAUTIONARY                                                           
Further to the cautionary announcement dated 8 November 2002, where reference   
was made to the cautionary announcement released by the Company`s subsidiary    
Falcon Gold Zimbabwe Limited on the 5 March 2002, shareholders are now advised  
that the following announcement has now been released:                          
"FALCON GOLD ZIMBABWE LIMITED                                                   
CAUTIONARY STATEMENT                                                            
Shareholders have been previously advised through successive Cautionary         
Statements that negotiations have been in progress which, if successfully       
concluded, and if requisite consents of regulatory authorities are forthcoming, 
could impact upon their interests in the company.  One consent of such          
authorities is currently still awaited, whereafter, if that consent is          
forthcoming, it will be possible for shareholders to be provided with all       
details of the envisaged transaction.                                           
As soon as the said consent is to hand, a comprehensive statement to            
shareholders will be issued expeditiously and, pending such statement,          
shareholders are once again advised to exercise caution in any dealings in the  
company`s shares."                                                              
In light of the above, shareholders in Falcon Investment Holdings S.A. are      
advised to continue to exercise caution and consult their professional advisors 
when dealing in the company`s shares.                                           
20 December 2002                                                                
City Group P.L.C.                                                               
Group Secretaries                                                               
Sponsor                                                                         
The Janus Corporation (Pty) Ltd                                                 
Date: 20/12/2002 08:01:00 AM Produced by the JSE SENS Department                


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