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Thu 27 May 2004, 10:57 Further Cautionary Announcement
Bell Equipment Limited - Further Cautionary Announcement 

Release Date: 27/05/2004 10:41:00      Code(s): BEL        
Bell Equipment Limited - Further Cautionary Announcement                        
BELL EQUIPMENT LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
Registration number 1968/013656/06                                              
Share code: BEL    ISIN: ZAE000028304                                           
(`Bell`)                                                                        
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcements dated 11 March 2004 and 22 April 2004,  
shareholders are advised that the major shareholders of Bell are still in       
negotiations which may result in a change of control of Bell.  Shareholders     
are advised to continue to exercise caution in dealing in Bell shares pending   
a further announcement in this regard.                                          
Richards Bay                                                                    
27 May 2004                                                                     
Sponsor                                                                         
Investec Bank Limited                                                         
  (Registration number 1969/004763/06)                                          
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