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Thu 12 Aug 2004, 17:38 Cautionary announcement
MGX - Cautionary announcement                                                   
MGX Holdings Limited                                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1983/012697/06)                                            
Share code: MGX                                                                 
ISIN: ZAE000009262                                                              
(`MGX`)                                                                         
CAUTIONARY ANNOUNCEMENT                                                         
MGX shareholders are referred to the cautionary announcement dated 22 June 2004 
and updated on 3 August 2004 relating to the proposed delisting of MGX from the 
JSE Securities Exchange South Africa (`the delisting`). Shareholders are advised
that the delisting has been postponed and will be revisited by the board of     
directors after:                                                                
-    the publication, at the end of September, of MGX`s financial results for   
     the financial year ended 30 June 2004; and                                 
-    the conclusion of a Black Economic Empowerment transaction relating to     
     Metrofile (Proprietary) Limited, which envisaged transaction is at an      
     advanced stage of negotiation.                                             
Shareholders are further advised to continue exercising caution when dealing in 
their MGX shares.                                                               
Sandton                                                                         
12 August 2004                                                                  
Sponsor                                                                         
Standard Bank
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