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INSURE - CAUTIONARY ANNOUNCEMENT                                                
INSURANCE OUTSOURCING MANAGERS HOLDINGS LIMITED                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/013121/06)                                            
("INSURE" or "the company")                                                     
JSE Code:   INS          ISIN Code:   ZAE 000033221                             
CAUTIONARY ANNOUNCEMENT                                                         
Shareholders are advised that Insure is in advanced negotiations which, if      
successfully concluded, may have a significant effect on the share price of the 
company"s securities.                                                           
Accordingly, shareholders are advised to exercise caution when dealing in their 
securities until a further announcement is made.                                
Sponsor                                                                         
Arcay Group Limited                                                             
21 August 2003                                                                  
Date: 21/08/2003 01:12:36 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department

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