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Mon 25 Aug 2003, 14:08 CAUTIONARY ANNOUNCEMENT
Shops for Africa - Cautionary Announcement                                      
SHOPS FOR AFRICA LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 2000/018084/06)                                            
Share Code: SFA  ISIN: ZAE000031241                                             
("Shops for Africa")                                                            
CAUTIONARY ANNOUNCEMENT                                                         
Linked unit-holders ("unit-holders") are advised that Shops for Africa is       
involved in negotiations, which may have an effect on the price at which Shops  
for Africa linked units trade on the JSE Securities Exchange SA. Unit-holders   
are therefore advised to exercise caution when dealing in their Shops for Africa
linked units until a further announcement is made.                              
Cape Town                                                                       
25 August 2003                                                                  
Corporate Advisor and Sponsor                                                   
SASFIN CORPORATE FINANCE                                                        
A division of Sasfin Bank Limited                                               
Date: 25/08/2003 01:41:32 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department
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