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Ccn Holdings Limited - Cautionary Announcement 
Release Date: 16/03/2004 17:45:00      Code(s): CCN
  CCN HOLDINGS LIMITED - CAUTIONARY ANNOUNCEMENT                                  
  CCN HOLDINGS LIMITED                                                            
  (Incorporated In the Republic of South Africa)                                  
  (Registration number 1998/006000/06)                                            
  Share code: CCN   ISIN: ZAE000046819                                            
  ("CCN" or "the Company")                                                        
  CAUTIONARY ANNOUNCEMENT                                                         
  Shareholders are advised that CCN has entered into discussions, which, if       
  successfully concluded, may have a material influence on the share price of CCN 
  ordinary shares.                                                                
  Accordingly, shareholders are advised to exercise caution when dealing in their 
  CCN ordinary shares.                                                            
  Sandton                                                                         
  16 March 2004                                                                   
  Sponsor                                                                         
  LPC MANHATTAN                                                                   
  Date: 16/03/2004 05:45:02 PM Produced by the JSE SENS Department                

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