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SUB NIGEL GOLD MINING COMPANY LIMITED                                           
(Incorporated in the Republic of South Africa)                                  
(Registration number 1984/006179/06)                                            
Share code: SBN     ISIN: ZAE000006391                                          
("Sub Nigel")                                                                   
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcement published on 13 March 2003, shareholders 
are advised that Sub Nigel is still 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 continue exercising caution when       
dealing in their Sub Nigel shares until a further announcement is made.         
Cape Town                                                                       
24 April 2003                                                                   
Sponsor                                                                         
SASFIN BANK LIMITED                                                             

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