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Thu 1 Jul 2004, 16:36 CAUTIONARY ANNOUNCEMENT
SAMRAND DEVELOPMENT HOLDINGS LIMITED - CAUTIONARY ANNOUNCEMENT                  
  SAMRAND DEVELOPMENT HOLDINGS LIMITED                                            
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1971/003132/06)                                            
  Share code: SMR   ISIN: ZAE000010419                                            
  (`Samrand`)                                                                     
  CAUTIONARY ANNOUNCEMENT                                                         
  Shareholders are advised that negotiations are in progress, which, if           
  successfully concluded, may have a material effect on the share price of        
  Samrand.                                                                        
  Although the listing of Samrand has been suspended by the JSE Securities        
  Exchange South Africa, shares may be traded off-market, and accordingly,        
  shareholders are advised to exercise caution when dealing in their Samrand      
  shares until a further announcement is made.                                    
  Sandton                                                                         
  17 June 2004                                                                    
  Sponsor                                                                         
     LPC Manhattan Sponsors (Pty) Ltd                                             
    (Registration number 1999/024792/07)                                          
  Date: 01/07/2004 04:08:04 PM Produced by the JSE SENS Department
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