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Wed 7 May 2003, 9:59 Shops for Africa Limited - Further Cautionary Anno
SHOPS FOR AFRICA LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 2000/018084/06)                                            
Share Code: SFA                                                                 
ISIN: ZAE000031241                                                              
("Shops for Africa")                                                            
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcement published on 26 March 2003, shareholders 
are advised that Shops for Africa is still involved in negotiations for the     
acquisition of certain retail properties.                                       
As these negotiations may have an effect on the price at which Shops for Africa 
linked units trade on the JSE Securities Exchange SA, shareholders are advised  
to continue exercising caution when dealing in their Shops for Africa linked    
units until a further announcement is made.                                     
Cape Town                                                                       
7 May 2003                                                                      
Corporate Advisor and Sponsor                                                   
SASFIN BANK LIMITED                                                             


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