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Thu 16 Oct 2003, 10:43 FURTHER CAUTIONARY ANNOUNCEMENT
NET1 APPLIED TECHNOLOGY HOLDINGS LIMITED - FURTHER CAUTIONARY ANNOUNCEMENT      
NET1 APPLIED TECHNOLOGY HOLDINGS LIMITED                                        
("The company")                                                                 
(Incorporated in South Africa)                                                  
Registration number: 1997/007207/06                                             
Share Code: APL                                                                 
ISIN Code: ZAE000024113                                                         
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcements dated 22 July 2003 and 2 September 2003,
shareholders are advised that negotiations are still in progress, which, if     
successfully concluded, may have a material effect on the price at which the    
company"s securities trade on the JSE Securities Exchange South Africa.         
Accordingly, shareholders are advised to continue exercising caution when       
dealing in the company"s securities until a full announcement is made.          
Johannesburg                                                                    
16 October 2003                                                                 
Sponsor:                                                                        
Merrill Lynch South Africa (Pty) Limited                                        
Date: 16/10/2003 10:34:19 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
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