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Wed 3 Mar 2004, 10:11 Further Cautionary Announcement
Mercantile - Further Cautionary Announcement                                    
  Mercantile Lisbon Bank Holdings Limited                                         
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1989/000164/06)                                            
  Share code: MTL                                                                 
  ISIN: ZAE000027082                                                              
  ("Mercantile" or "the company")                                                 
  FURTHER CAUTIONARY ANNOUNCEMENT                                                 
  Further to the announcement dated 20 January 2004, shareholders are advised that
  Mercantile is still considering various alternatives for the recapitalisation of
  the company that, if implemented, may have an effect on the price at which the  
  company"s shares trade.  Accordingly, shareholders are advised to exercise      
  caution when dealing in the company"s shares until a further announcement is    
  made.                                                                           
  Johannesburg                                                                    
  2 March 2004                                                                    
  Merchant bank and lead sponsor                                                  
  (A division of The Standard Bank of South Africa Limited)                       
  (Registration number 1962/000738/06)                                            
  Sponsor                                                                         
  Bridge Capital                                                                  
  Date: 03/03/2004 09:31:40 AM Produced by the JSE SENS Department                
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