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ASPEN PHARMACARE HOLDINGS LIMITED - CAUTIONARY ANNOUNCEMENT                     
  Aspen Pharmacare Holdings Limited                                               
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1985/002935/06)                                            
  JSE Share code: APN                                                             
  ISIN: ZAE000023586                                                              
  ("Aspen")                                                                       
  CAUTIONARY ANNOUNCEMENT                                                         
  Investec Bank Limited is authorised to announce that Aspen has entered into     
  negotiations, which, if successfully concluded, may have a material effect on   
  the price at which Aspen"s securities trade on the JSE Securities Exchange South
  Africa. Accordingly, shareholders of Aspen are advised to exercise caution when 
  dealing in Aspen"s securities until a further announcement is made.             
  Sandton                                                                         
  6 May 2004                                                                      
  Sponsor:                                                                        
  Investec Bank Limited                                                           
  (Registration number 1969/004763/06)                                            
  Date: 06/05/2004 10:43:24 AM Produced by the JSE SENS Department                

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