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Fri 7 Nov 2003, 17:21 FURTHER CAUTIONARY ANNOUNCEMENT
Avis - FURTHER CAUTIONARY ANNOUNCEMENT                                          
  AVIS SOUTHERN AFRICA LIMITED                                                    
  (Incorporated in the Republic of South Africa)                                  
  (Registration number : 1967/010320/06)                                          
  Share code:: AVS                                                                
  ISIN: ZAE000013371                                                              
   ("Avis")                                                                       
  FURTHER CAUTIONARY ANNOUNCEMENT                                                 
  In a cautionary announcement dated 23 October 2003, shareholders were advised   
  that discussions had reached an advanced stage and that it was expected that a  
  detailed announcement would be made by 7 November 2003. These discussions have  
  progressed further, but are still not finalised. A detailed announcement will be
  made on or before 19 November 2003. Accordingly, Avis shareholders are advised  
  to continue exercising caution when dealing in Avis securities until this       
  announcement is made.                                                           
  Kempton Park                                                                    
  7 November 2003                                                                 
  Merchant Bank and Sponsor                                                       
  RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
  CORPORATE FINANCE                                                               
  Date: 07/11/2003 05:01:28 PM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
                                                                                  
  
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