Falcon Investment Holdings Societe Anonyme
(Incorporated in Luxembourg - R.C. Number B39773)
("the Company")
Share code: FLC ISIN number: LU0042254812
RENEWAL OF CAUTIONARY
Further to the cautionary announcements released since March 2002, referring to
similar announcements released by the Company"s subsidiary Falcon Gold Zimbabwe
Limited, shareholders are advised that the following announcement has now been
released:
"FALCON GOLD ZIMBABWE LIMITED
CAUTIONARY STATEMENT
Pursuant to the several Cautionary Statements issued by the Directors in the
course of the past approximately 10 months, all requisite consents of regularity
authorities, to a proposed transaction as hereafter referred to, have now been
forthcoming.
Cellular Systems Limited ("Celsys") has expressed a desire to acquire the entire
issued share capital of Falcon Gold Zimbabwe Limited ("Falgold") and the
Directors of Falgold consider that the Offer to be made by Celsys to the
Shareholders of Falgold is advantageous and recommend acceptance thereof. Such
Offer will be on the basis of a share exchange or a cash alternative, each
Falgold shareholder determining upon which of the alternatives should be
accepted. Imara Corporate Finance Zimbabwe (Private) Limited, acting for and on
behalf of Celsys, will shortly forward a detailed Offer Letter to all Falgold
shareholders, and a Joint Cautionary Statement will be issued by Falgold and
Celsys. Pending the aforegoing, Shareholders of Falgold are again advised to
exercise caution in any dealings in the Company"s shares."
In light of the above, shareholders in Falcon Investment Holdings S.A. are
advised to continue to exercise caution and consult their professional advisors
when dealing in the Company"s shares.
20 March 2003
Sponsor
The Janus Corporation (Pty) Ltd)
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