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Thu 22 Jan 2004, 13:33 TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
SABVEST LIMITED - TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT                    
  SABVEST LIMITED                                                                 
  (Incorporated in the Republic of South Africa)                                  
  (Registration number  1987/003753/06)                                           
  Ordinary shares:   Share code: SBV  ISIN: ZAE 000006417                         
  N Ordinary shares: Share code: SVN  ISIN: ZAE 000012043                         
  ("Sabvest")                                                                     
  TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT                                      
  Sabvest shareholders are advised that headline earnings for the year ended 31st 
  December 2003 will be materially higher than those of the previous comparative  
  period, largely as a result of the implementation of AC133.                     
  As the headline earnings for the year have not yet been audited, shareholders   
  are advised to exercise caution when dealing in Sabvest"s shares until the year 
  end results are published.                                                      
  Sandton                                                                         
  22 January 2004                                                                 
  Sponsor                                                                         
  RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
  CORPORATE FINANCE                                                               
  Date: 22/01/2004 12:07:02 PM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
                                                                                  
  



 
 
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