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Thu 1 Jul 2004, 17:06 Brait S.A. - Renewal Of Cautionary Announcement
Brait S.A. - Renewal Of Cautionary Announcement                                 
  Brait S.A.                                                                      
  Societe Anonyme                                                                 
  (Incorporated in Luxembourg)                                                    
  (RC Luxembourg B-13861)                                                         
  Share code: BAT               ISIN: LU0011857645                                
  (`Brait` or `the company`)                                                      
  RENEWAL OF CAUTIONARY ANNOUNCEMENT                                              
  Further to the cautionary announcement dated 20 May 2004, Brait shareowners are 
  advised that negotiations are still in progress concerning the acquisition of a 
  portion of its South African operation by a black economic empowerment          
  consortium, which, if successfully concluded, could affect the price that Brait 
  shares are trading at on the Luxembourg and London Stock Exchanges and the JSE  
  Securities Exchange South Africa (`JSE`). Accordingly, Brait shareowners are    
  advised to continue to exercise caution when dealing in the shares of the       
  company on the Luxembourg and London Stock Exchanges and JSE until a further    
  announcement is made.                                                           
  By order of the Board.                                                          
  Luxembourg                                                                      
  I July 2004                                                                     
  Lead sponsor                                                                    
  Deloitte & Touche Sponsor Services (Pty) Ltd                                    
  (Incorporated in the Republic of South Africa) (Registration number             
  1996/000034/07)                                                                 
  Joint sponsor                                                                   
  Brait Sponsors (Proprietary) Limited                                            
  (Registration number 2000/031069/07)                                            
  Date: 01/07/2004 05:00:02 PM Produced by the JSE SENS Department
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