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Primegro Properties Limited - Further Cautionary Announcement                   
PRIMEGRO PROPERTIES LIMITED                                                     
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/018436/06)                                            
Share code PMG   ISIN ZAE000022620                                              
("Primegro")                                                                    
Further Cautionary Announcement                                                 
Primegro linked unitholders are advised that the initiatives referred to in the 
cautionary announcement published on 3 February 2003 are still underway.  These 
initiatives could, individually or collectively, have an impact on the Primegro 
linked unit price.                                                              
Linked unitholders are accordingly advised to continue to exercise caution when 
dealing in their linked units.                                                  
Sandton                                                                         
14 March 2003                                                                   
Investment bank and sponsor                                                     
NEDBANK CORPORATE                                                               

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