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Alexander Forbes Limited                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 1958/001974/06)                                            
Sharecode: AFB    ISIN code: ZAE 000018230                                      
("the company")                                                                 
Withdrawal of cautionary announcement                                           
Shareholders of the company are advised that the discussions referred to in the 
cautionary announcement issued by the company on 12 March 2003 have been        
terminated. As a result, the reason for the cautionary announcement no longer   
applies and the cautionary announcement is hereby withdrawn.                    
Johannesburg                                                                    
9 April 2003                                                                    
Sponsor                                                                         
Investec Securities Limited                                                     

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