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G&I - TRADING UPDATE AND CAUTIONARY                                             
GUBB & INGGS LIMITED                                                            
(Incorporated in the Republic of South Africa)                                  
(Registration No: 1916/001495/06)                                               
("G&I" or "the company")                                                        
JSE Code: GUB  -  ISIN CODE: ZAE000003208                                       
TRADING UPDATE AND CAUTIONARY                                                   
Further to the announcement of G&I"S audited financial results for year ended 30
June 2002, shareholders are advised that G&I will report reduced profits for the
six month period ended 31 December 2002.                                        
Accordingly, shareholders are advised to exercise caution when dealing in the   
company"s securities until a full announcement is made.                         
Johannesburg                                                                    
10 March 2003                                                                   
Sponsor                                                                         
The Janus Corporation (Pty) Ltd

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