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Tue 20 Jan 2004, 15:26 FURTHER CAUTIONARY ANNOUNCEMENT
MERCANTILE LISBON BANK HOLDINGS LIMITED - FURTHER CAUTIONARY ANNOUNCEMENT       
  Mercantile Lisbon Bank Holdings Limited                                         
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1989/000164/06)                                            
  Share code: MTL                                                                 
  ISIN: ZAE000027082                                                              
  ("Mercantile" or "the company")                                                 
  FURTHER CAUTIONARY ANNOUNCEMENT                                                 
  Further to the announcement dated 10 December 2003, shareholders are advised    
  that Mercantile is still considering various alternatives for the               
  recapitalisation of the company that, if implemented, may have an effect on the 
  price at which the company"s shares trade.  Accordingly, shareholders are       
  advised to exercise caution when dealing in the company"s shares until a further
  announcement is made.                                                           
  Johannesburg                                                                    
  20 January 2004                                                                 
  Merchant bank and lead sponsor                                                  
  (A division of The Standard Bank of South Africa Limited)                       
  (Registration number 1962/000738/06)                                            
  Sponsor                                                                         
  Bridge Capital                                                                  
  Date: 20/01/2004 02:40:02 PM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
                                                                                  
  



 
 
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