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Mon 5 Jul 2004, 15:53 KWV Investments - Cautionary Announcement
KWV Investments - Cautionary Announcement                                       
  KWV Investments Limited                                                         
  (Registration number: 1979/007263/06)                                           
  Share Code: KWV                                                                 
  ISIN number: ZAE000004016                                                       
  (`KWV Investments`)                                                             
  CAUTIONARY ANNOUNCMENT                                                          
  Further to the trading statement and cautionary announcement by Distell Group   
  Limited (`Distell`) on Friday, 2 July 2004, KWV Investments` shareholders are   
  advised that current estimates of Distell, and accordingly of KWV Investments,  
  for the financial year ending 30 June 2004 indicate that real growth in headline
  earnings will be materially higher than the corresponding reporting period of   
  the previous year. `Materially` is defined by the JSE Securities Exchange South 
  Africa as an increase of between 10% and 30%.                                   
  The financial information on which Distell`s trading statement and cautionary   
  announcement of 2 July 2004 is based has not been reviewed or reported on by    
  Distell`s auditors. KWV Investments` shareholders are therefore advised to      
  exercise caution when trading in KWV Investments shares until the Distell and   
  KWV Investments results are published on or about 17 August 2004.               
  Sponsor                                                                         
  PSG CAPITAL LIMITED                                                             
  5 July 2004                                                                     
  Stellenbosch                                                                    
  Date: 05/07/2004 03:45:04 PM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
                                                                                  
  



 
 

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