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Fri 10 Oct 2003, 15:20 WITHDRAWAL OF OFFER BY CATWALK INVESTMENTS 167
ENTERPRISE RISK MANAGEMENT - WITHDRAWAL OF OFFER BY CATWALK INVESTMENTS 167     
  (PROPRIETARY) LIMITED                                                           
  ENTERPRISE RISK MANAGEMENT LIMITED                                              
  (incorporated in the Republic of South Africa)                                  
  (registration number : 1995/001603/06                                           
  (JSE Code: ERM  ISIN Code: ZAE000037701)                                        
  ("the Company")                                                                 
  WITHDRAWAL OF OFFER BY CATWALK INVESTMENTS 167 (PROPRIETARY) LIMITED            
  Shareholders are referred to the announcement relating to the firm intention to 
  make an offer ("offer") by Catwalk Investments  167 (Proprietary) Limited       
  ("Catwalk") published in the press on 20  August 2003 and to the further        
  announcement published in the press on 27  August 2003.                         
  Catwalk has advised the board of directors of the company that the conditions   
  precedent to which the offer was subject have not been fulfilled and that       
  Catwalk will, accordingly, not be proceeding with the offer.                    
  Shareholders are no longer required to exercise caution when dealing in the     
  Company"s securities.                                                           
  Johannesburg                                                                    
  10 October 2003                                                                 
  Sponsor                          Attorneys                                      
  Exchange Sponsors                Werksmans Inc.                                 
  Date: 10/10/2003 03:07:32 PM Produced by the JSE SENS Department                
                                                                                  
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