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Trematon Capital Investments Limited - Further Cautionary Announcement          
TREMATON CAPITAL INVESTMENTS LIMITED                                            
(Incorporated in the Republic of South Africa)                                  
(Registration Number 1997/008691/06)                                            
Share Code:    TMT                                                              
ISIN Code:     ZAE000013991                                                     
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcement dated 30 May 2003, shareholders are      
advised that negotiations are still in progress regarding a restructure of the  
funding requirements of Trematon"s main investments, Mican Limited and          
Gracefield Investments (Pty) Limited as well as in regard to Trematon"s own     
funding requirements. The outcome of these negotiations may have a material     
effect on the price of the company"s securities.                                
Accordingly, shareholders are advised to continue exercising caution when       
dealing in the company"s securities until a full announcement is made.

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