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Tue 17 Aug 2004, 16:01 Conafex - Cautionary Announcement
Conafex - Cautionary Announcement                                               
  CONAFEX HOLDINGS SOCIETE ANONYME                                                
  (Incorporated in Luxembourg                                                     
  RC Luxembourg No. B 17789)                                                      
  (`Conafex`)                                                                     
  JSE CODE: CNX        ISIN: LU0167907293                                         
  Registered Office                                                               
  6 rue Adolphe Fischer,                                                          
  L-1520, Luxembourg                                                              
  CAUTIONARY ANNOUNCEMENT                                                         
  The Board of Directors of Conafex Holdings Societe Anonyme (`Conafex`) wishes to
  inform shareholders that the Government of Zimbabwe has advised Conafex`s       
  Zimbabwean subsidiary, Zimcor Limited, that all its agricultural estates are to 
  be compulsorily acquired with immediate effect. The implications of this action 
  and the matter of compensation are not yet clear.                               
  Shareholders will be advised of any further developments when the situation     
  clarifies and, accordingly, shareholders should exercise caution in their       
  dealings in Conafex shares until such time as a further announcement is made.   
  By order of the Board                                                           
  Group Secretaries                                                               
  CITY GROUP PLC                                                                  
  Sponsor                                                                         
  Imara Corporate Finance South Africa (Pty) Limited                              
  Date: 17/08/2004 03:50:08 PM Produced by the JSE SENS Department
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