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Fri 23 Jan 2004, 17:10 TOURISM INVESTMENT CORPORATION LIMITED - FURTHER C
TOURISM INVESTMENT CORPORATION LIMITED - FURTHER CAUTIONARY ANNOUNCEMENT        
TOURISM INVESTMENT CORPORATION LIMITED                                          
Registration number: 1996/008144/06                                             
Share code: TRT                                                                 
ISIN:      ZAE000012472                                                         
("Tourvest" or "the company")                                                   
SURE HOLDINGS LIMITED                                                           
Registration number: 2000/023872/06                                             
("Sure Holdings")                                                               
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Shareholders are referred to the joint announcement made by Tourvest and Sure   
Holdings, dated 18 December 2003, wherein it was stated that Tourvest had       
notified Sure Holdings of its firm intention to make an offer to acquire the    
entire issued share capital of Sure Holdings.                                   
As a result of continuing discussions between the boards of Tourvest and Sure   
Holdings, relating to the fulfillment of certain of the conditions precedent,   
shareholders are advised that the circular which was expected to be posted on 23
January 2004, has been delayed and will be posted to the shareholders of Sure   
Holdings as soon as possible.                                                   
Accordingly, shareholders are advised to continue exercising caution when      
dealing in the securities of Sure Holdings and Tourvest until a further         
announcement is made                                                            
Johannesburg                                                                    
23 January 2004                                                                 
Sponsor to Tourvest                                                             
Investec Bank Limited (Registration number 1969/004763/06)                      
Attorneys to Sure Holdings                                                      
Mallinicks Inc
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