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Messina Limited - Further cautionary announcement                               
Messina Limited                                                                 
Registration number 1950/035912/06                                              
Share code: MES ISIN: ZAE 00000443                                              
"Messina" or "the company"                                                      
Further Cautionary Announcement                                                 
Shareholders are advised that further to the cautionary announcement published  
on 6 December 2002, the Messina board is still in the process of considering    
various options with respect to reducing the company`s balance sheet debt.      
Shareholders are therefore advised to continue exercising caution when dealing  
in their Messina shares until further details are announced.                    
Rosebank                                                                        
21 January 2003                                                                 
Sponsor                                                                         
RMB Corporate Finance                                                           
Date: 21/01/2003 05:15:05 PM Produced by the JSE SENS Department

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