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Tue 7 Oct 2003, 17:20 FURTHER CAUTIONARY ANNOUNCEMENT
S A RETAIL PROPERTIES LIMITED - FURTHER CAUTIONARY ANNOUNCEMENT                 
S A RETAIL PROPERTIES LIMITED                                                   
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1999/025764/06)                                           
JSE Code: SRL                                                                   
ISIN Code: ZAE000034328                                                         
                                         
Unit holders are referred to the cautionary announcement published on           
27 August 2003 and are advised that S A Retail is still involved in             
negotiations, which, if successfully concluded, may have an effect on the price 
at which units trade on the JSE Securities Exchange South Africa.  Unit holders 
are accordingly advised to continue exercising caution when dealing in          
S A Retail units until a further announcement is made.                          
Durban                                                                          
7 October 2003                                                                  
Merchant Bank:                     Sponsor:                                     
Marriott Merchant Bank             Exchange Sponsors                            
Date: 07/10/2003 05:15:02 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
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