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Mon 4 Aug 2003, 14:55 CAUTIONARY ANNOUNCEMENT
Spescom - CAUTIONARY ANNOUNCEMENT                                               
SPESCOM LIMITED                                                                 
(Registration number 1987/001083/06)                                            
(Incorporated in the Republic of South Africa)                                  
Share code: SPS         ISIN: ZAE000017919                                      
("Spescom" or "the company")                                                    
CAUTIONARY ANNOUNCEMENT                                                         
Shareholders are referred to the unaudited interim results of the company for   
the six months ended 31 March 2003 where-in the directors of Spescom advised    
that initiatives with regard to the reduction of the debt were of high priority 
and continuing.                                                                 
In pursuance thereof, shareholders are advised that Spescom has commenced       
discussions and negotiations, which, if successfully concluded, may have a      
material effect on the price of the company"s securities.  Accordingly,         
shareholders are advised to exercise caution when dealing in the company"s      
securities until a full announcement is made.                                   
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance                                        
Corporate Attorney                                                              
Fluxmans Inc                                                                    
Date: 04/08/2003 02:38:23 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
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