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Argent Industrial Limited                                                       
(Registration number     1993/002054/06)                                        
Share code: ART    ISIN: ZAE000019188                                           
("Argent")                                                                      
CAUTIONARY ANNOUNCEMENT                                                         
LPC Manhattan Sponsors (Pty) Limited is authorised to announce that negotiations
are currently in progress, which, if successfully concluded, may have a material
effect on the share price of Argent.                                            
Accordingly, shareholders are advised to exercise caution when dealing in their 
shares until a further announcement is made.                                    
Germiston                                                                       
20 January 2003                                                                 
Sponsor:                                                                        
LPC Manhattan                                                                   
LPC Manhattan Sponsors (Pty) Ltd                                                
(Registration number 1999/024792/07)                                            
Date: 20/01/2003 01:23:00 PM Produced by the JSE SENS Department

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