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Sanlam Limited - Cautionary announcement                                        
Sanlam Limited                                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 1959/001562/06)                                            
Share code: SLM                                                                 
ISIN No: ZAE000028262                                                           
("Sanlam" or "the company")                                                     
Cautionary announcement                                                         
Sanlam shareholders are advised that the company is engaged in discussions with 
a potential partner to establish a broad-based Black Economic Empowerment       
transaction which, if successfully concluded, may have an impact on the price of
the company"s shares.                                                           
Sanlam shareholders are accordingly advised to exercise caution when dealing in 
their Sanlam shares until a further announcement is made.                       
Cape Town

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