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Bell Equipment Limited - Cautionary Announcement 
Release Date: 11/03/2004 11:00:01      Code(s): BEL 
BELL EQUIPMENT LIMITED - CAUTIONARY ANNOUNCEMENT                                
BELL EQUIPMENT LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
Registration number 1968/013656/06                                              
Share code: BEL     ISIN: ZAE000028304                                          
("Bell" or "the Company")                                                       
Cautionary Announcement                                                         
The major shareholders of Bell are currently in negotiations, which may result  
in a change of control of Bell.  Shareholders are advised to exercise caution in
dealing in Bell shares pending a further announcement in this regard.           
11 March 2004                                                                   
Sponsor                                                                         
Investec Bank Limited                                                           

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