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Fri 27 Feb 2004, 16:02 CAUTIONARY ANNOUNCEMENT
EERSTELING GOLD MINING COMPANY LIMITED - CAUTIONARY ANNOUNCEMENT                
  EERSTELING GOLD MINING COMPANY LIMITED                                          
  (Registration number 1987/001814/06)                                            
  ("Eersteling" or "the Company")                                                 
  Share Code: ESL                                                                 
  ISIN Number: ZAE000002473                                                       
  CAUTIONARY ANNOUNCEMENT                                                         
  Shareholders are advised that minority shareholdings of approximately 3.6% of   
  the ordinary shares in Eersteling will, subject to shareholders approval in     
  general meeting and other necessary regulatory approvals, be converted into     
  redeemable preference shares ("the preference shares"). The preference shares   
  will immediately be redeemed at 20 cents per share by Eersteling and thereafter 
  the Company will apply to terminate its listing on the JSE Securities Exchange  
  South Africa.                                                                   
  Shareholders are advised to exercise caution when dealing in their Eersteling   
  shares until a more detailed announcement is made.                              
  Johannesburg                                                                    
  27 February 2004                                                                
  Sponsor                      Corporate and Legal Advisor                        
  SASFIN CORPORATE FINANCE     JOWELL GLYN MARAIS                                 
  A DIVISION OF SASFIN BANK                                                       
  LIMITED                                                                         
  Date: 27/02/2004 04:00:28 PM Produced by the JSE SENS Department
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