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Wed 22 Oct 2003, 14:04 Cautionary announcement
McCarthy - Cautionary announcement                                              
  McCarthy Limited                                                                
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1991/003245/06)                                            
  ("McCarthy" or "the company")                                                   
  Ordinary shares:           JSE code: MCC      ISIN: ZAE000034823                
  Preference shares:         JSE code: MCCP     ISIN: ZAE000034831                
  Cautionary announcement                                                         
  Shareholders are advised that the board of directors of McCarthy has today been 
  notified by its controlling shareholders that they are in the process of        
  formally evaluating proposals in respect of their McCarthy shareholding.  This  
  may have a material impact on the price of the company"s securities.            
  Accordingly, shareholders are advised to exercise caution when dealing in the   
  company"s securities until a further announcement is made.                      
  Durban                                                                          
  22 October 2003                                                                 
  Sponsor                                                                         
  RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
  CORPORATE FINANCE                                                               
  Date: 22/10/2003 01:47:02 PM Produced by the JSE SENS Department
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