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Fri 23 Jan 2004, 15:05 Further Cautionary Announcement
South African Chrome and Alloys Limited - Further Cautionary Announcement       
South African Chrome and Alloys Limited                                         
(Incorporated in the Republic of South Africa)                                  
(Registration number 1987/003452/06)                                            
("SA Chrome" or "the Company")                                                  
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcement dated 8 December 2003, shareholders are  
advised that the negotiations referred to therein are continuing. If            
successfully concluded these negotiations may have a material effect on the     
price of the Company"s shares. Accordingly, shareholders are advised to continue
to exercise caution when dealing in the Company"s shares until a further        
announcement is made.                                                           
Johannesburg                                                                    
23 January 2004                                                                 
Sponsor                                                                         
Rand Merchant Bank, a division of FirstRand Bank Limited                        
Transactional sponsor                                                           
Deutsche Securities (SA) (Proprietary) Limited, a member of Deutsche Bank Group 
Date: 23/01/2004 03:00:02 PM Supplied by www.sharenet.co.za                     
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