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Fri 5 Sep 2003, 14:52 TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
FORIM HOLDINGS LIMITED/ALLIANCE PHARMACEUTICALS LIMITED - TRADING UPDATE AND    
  CAUTIONARY ANNOUNCEMENT                                                         
    FORIM HOLDINGS LIMITED                ALLIANCE PHARMACEUTICALS LIMITED        
  (Incorporated in the Republic of      (Incorporated in the Republic of        
    South Africa)                         South Africa)                           
    (Registration number 1986/004111/06)  (Registration number 1981/006145/06)    
     Share Code: FOM                      Share code ALN    ISIN  ZAE000011110    
  ISIN Number: ZAE000002689             Share code ACN    ISIN  ZAE000011847    
  ("the companies")                                                               
  TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT                                      
  TRADING UPDATE                                                                  
  Shareholders are advised that the earnings of the companies for the six months  
  ended 31 August 2003 are expected to be substantially higher than those achieved
  for the corresponding period last year.                                         
  The forecast financial information has not been reviewed and reported on by the 
  companies" auditors.                                                            
  NEGOTIATIONS                                                                    
  Shareholders are also advised that the companies have entered into negotiations 
  which if successfully concluded could affect the price at which their shares    
  trade on the JSE Securities Exchange South Africa.                              
  CAUTIONARY ANNOUNCEMENT                                                         
  In light of the above, shareholders are advised to exercise caution when dealing
  in their shares until a further announcement is made.                           
  5 September 2003                                                                
  Johannesburg                                                                    
  Sponsor                                                                         
  SASFIN CORPORATE FINANCE                                                        
  A DIVISION OF Sasfin Bank Limited                                               
  Date: 05/09/2003 02:37:03 PM Produced by the JSE SENS Department                
                                                                                  
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