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Thu 10 Jun 2004, 15:06 Trading Statement, Cautionary
Independent Financial Services Limited - Trading Statement, Cautionary 

Release Date: 10/06/2004 14:54:05      Code(s): IND        
INDEPENDENT FINANCIAL SERVICES LIMITED - TRADING STATEMENT, CAUTIONARY          
                                         ANNOUNCEMENT AND DIVIDEND DECLARATION  
Independent Financial Services Limited                                          
Incorporated in the Republic of South Africa                                    
Registration number 1950/037061/06                                              
JSE Share code: IND                                                             
ISIN: ZAE000025300                                                              
(`IFS` or `the company`)                                                        
TRADING STATEMENT, CAUTIONARY ANNOUNCEMENT AND DIVIDEND DECLARATION             
Shareholders are hereby notified that IFS`s headline earnings per share for the 
year ending 30 June 2004 could be materially higher than the audited results for
the year ended 30 June 2003 (`materially` being an increase of between 10% and  
30% as defined by the Listings Requirements of the JSE Securities Exchange South
Africa).  The results for the year ending 30 June 2004 have not been reviewed   
and reported on by IFS`s auditors, and therefore shareholders are advised to    
exercise caution when dealing in the company`s shares until the publication of  
the final results.                                                              
Notice is hereby given that a final ordinary dividend, number 77, of 4 cents per
share (2003: 2 cents per share) has been declared by the board of directors for 
the year ending 30 June 2004.  In compliance with the requirements of the       
electronic settlement system of the JSE Securities Exchange South Africa, the   
following dates are applicable:                                                 
Last day to trade `cum`         Friday, 25 June 2004                            
dividend                                                                        
Shares trade `ex` dividend      Monday, 28 June 2004                            
Record date                     Friday, 2 July 2004                             
Payment date                    Monday, 5 July 2004                             
Shares may not be dematerialised or rematerialised between Monday, 28 June, 2004
and Friday, 2 July, 2004, both days inclusive.                                  
Johannesburg                                                                    
10 June 2004                                                                    
Sponsor                                                                         
Bridge Capital Services (Proprietary) Limited                                   
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