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Wed 28 May 2003, 15:47 IFour - Further Cautionary Announcement
iFOUR PROPERTIES LIMITED                                                        
Incorporated in the Republic of South Africa                                    
(Registration number 2001/016118/06                                             
Share code: iFour                                                               
ISIN: ZAE 000039236                                                             
("iFour")                                                                       
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcement dated 7 April 2003, linked unitholders   
are advised that negotiations are still in progress and are advised to continue 
to exercise caution when dealing in iFour linked units until a further          
announcement is made.                                                           
Johannesburg                                                                    
28 May 2003                                                                     
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
(Registration number 1970/003711/07)                                            
Date: 28/05/2003 12:49:41 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
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