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Tue 3 Feb 2004, 14:21 FURTHER CAUTIONARY ANNOUNCEMENT
ZAMBIA COPPER INVESTMENTS LIMITED - FURTHER CAUTIONARY ANNOUNCEMENT             
Zambia Copper Investments Limited                                               
(Registered in Bermuda)                                                         
("ZCI")                                                                         
JSE code: ZCI                                                                   
ISIN: BMG988431240                                                              
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcements dated 16 May 2003, 27 June 2003, 8      
August 2003, 2 October 2003, 13 November 2003 and 23 December 2003, shareholders
are advised that negotiations are still in progress between ZCI, the Government 
of the Republic of Zambia, ZCCM Investments Holdings plc, Konkola Copper Mines  
plc ("KCM") and Sterlite Industries Limited ("Sterlite"), the preferred bidder, 
on the terms of the proposed investment by Sterlite into KCM.                   
Accordingly, ZCI shareholders are advised to continue exercising caution when   
dealing in ZCI"s securities until a detailed announcement is made.              
Bermuda                                                                         
3 February 2004                                                                 
Sponsor                                                                         
RAND MERCHANT BANK                                                              
(A division of FirstRand Bank Limited)                                          
CORPORATE FINANCE                                                               
Date: 03/02/2004 02:08:02 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
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