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Sub Nigel Gold Mining Company Limited - Cautionary Announcement                 
Sub Nigel Gold Mining Company Limited                                           
(Incorporated in the Republic of South Africa)                                  
(Registration number 1984/006179/06)                                            
Share code: SBN  ISIN:  ZAE 000017539                                           
("Sub  Nigel")                                                                  
CAUTIONARY ANNOUNCEMENT                                                         
Shareholders are advised that Sub Nigel is involved in negotiations             
which, if successfully concluded, may have an effect on the price at            
which Sub Nigel shares trade on the JSE Securities Exchange of South            
Africa.                                                                         
Accordingly, shareholders are advised to exercise caution when                  
dealing in their Sub Nigel shares until a further announcement is               
made.                                                                           
Cape Town                                                                       
13 March 2003                                                                   
Sponsor                                                                         
SASFIN BANK LIMITED

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