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Wed 22 Oct 2003, 11:53 TRADING UPDATE and CAUTIONARY ANNOUNCEMENT
Winhold - TRADING UPDATE and CAUTIONARY ANNOUNCEMENT                            
  Winhold Limited                                                                 
     Incorporated in the Republic of South Africa                                 
  (Registration number 1945/019679/06)                                          
     Share code: WNH/ WNHP                                                        
     ISIN: ZAE000033916/ ZAE000008041                                             
    ("Winhold")                                                                   
  TRADING UPDATE and CAUTIONARY ANNOUNCEMENT                                      
     Shareholders are advised that the earnings for Winhold for the year ended 30 
  September 2003, which have not been reviewed, audited or reported on by the     
  Group auditors, are expected to be substantially* higher than the comparative   
  results for the previous financial year.                                        
  The reasons for the improvements can be attributed to:                          
  - general improvement in trading conditions in Inmins;                          
  - Gundle Limited Group now benefiting from the internal                         
  restructuring.                                                                  
     The results for the year ended 30 September 2003 are currently being audited 
  and final results are expected to be published during the first week of December
  2003.                                                                           
  Shareholders are accordingly advised to exercise caution when dealing in their  
  shares on the JSE Securities Exchange South Africa ("JSE"), until the results   
  are published.                                                                  
  (* "substantially" is defined in the JSE Listings Requirements as an increase   
  equal to or greater than 30% when compared to the prior comparative period.)    
  By order of the board                                                           
     Johannesburg                                                                 
     23 October 2003                                                              
  Sponsor                                                                         
     LPC Manhattan Sponsors (Pty) Ltd                                             
    (Registration number 1999/024792/07)                                          
  Date: 22/10/2003 11:28:02 AM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
                                                                                  
  



 
 
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