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Mon 24 May 2004, 17:09 Trading Statement And Cautionary Announcement
Indequity - Trading Statement And Cautionary Announcement                       
  Indequity Group Limited                                                         
  Registration number:  1998/015883/06                                            
  Incorporated in the Republic of South Africa                                    
  `Indequity` or `the Group` or `the company`                                     
  Share code:  IDQ                                                                
  ISIN:  ZAE000016606                                                             
  TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT                                   
  Shareholders are advised that the earnings and headline earnings for the interim
  period ended 31 March 2004 will be substantially higher (`substantially` being  
  an increase equal to or higher than 30% as defined in the JSE Securities        
  Exchange South Africa Listings Requirements) than those of the prior comparative
  period. This increase is mainly due to improved management of operating expenses
  as well as the general improvement in trading conditions.                       
  The financial information on which this trading statement is based has not been 
  reviewed nor reported on by the group`s auditors. Shareholders are therefore    
  advised to exercise caution when dealing in Indequity`s securities until the    
  publication of its interim results on or about 23 June 2004.                    
  On behalf of the Board                                                          
  Johannesburg                                                                    
  25 May 2004                                                                     
  KPMG Sponsor                                                                    
  Date: 24/05/2004 05:05:02 PM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
                                                                                  
  



 
 
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