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Mon 25 Aug 2003, 16:45 FURTHER CAUTIONARY ANNOUNCEMENT
SOUTHERN ELECTRICITY COMPANY - FURTHER CAUTIONARY ANNOUNCEMENT                  
SOUTHERN ELECTRICITY COMPANY LIMITED                                            
   (Incorporated in the Republic of South Africa)                               
(Registration number 1997/006894/06)                                         
   Share code: SLO    ISIN: ZAE000041919                                        
   ("the company")                                                              
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcement dated 9 July 2003, shareholders are   
advised that negotiations are still in progress which, if successfully          
concluded, 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.          
By order of the Board                                                           
   Pretoria                                                                     
   25 August 2003                                                               
Transaction sponsor                                                             
  Gensec Bank Limited                                                           
  (Registration number 1996/004744/06)                                          
  Corporate Finance Advisory                                                    
Date: 25/08/2003 04:37:05 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
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