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Fri 20 Aug 2004, 16:34 CAUTIONARY ANNOUNCEMENT
Murray & Roberts Holdings Limited - Cautionary Announcement                     
  MURRAY & ROBERTS HOLDINGS LIMITED                                               
  (Incorporated in the Republic of South Africa)                                  
  (Registration number 1948/029826/06)                                            
  Share code: MUR   ISIN: ZAE000008983                                            
  (`the Company`)                                                                 
  CAUTIONARY ANNOUNCEMENT                                                         
  Shareholders of the Company are advised that the Company has received an offer  
  for its 44% shareholding in Unitrans Limited. Should the offer result in a sale,
  it may have a material effect on the price at which the Company`s shares trade  
  on the JSE Securities Exchange South Africa. Accordingly, shareholders are      
  advised to exercise caution when dealing in the Company`s shares until a further
  announcement is made.                                                           
  Johannesburg                                                                    
  20 August 2004                                                                  
  Transactional advisor                                                           
     Investec Corporate Finance                                                   
     Investec Bank Limited                                                        
    (Registration number 1969/004763/06)                                          
  Legal advisor                                                                   
     Bowman Gilfillan Attorneys                                                   
  Sponsor                                                                         
     Merrill Lynch                                                                
  Global Markets & Investment Banking Group                                    
     Merrill Lynch South Africa (Pty) Ltd                                         
     Registration number 1995/001805/07                                           
     Registered Sponsor and Member of the                                         
  JSE Securities Exchange South Africa                                         
  Date: 20/08/2004 04:30:02 PM Produced by the JSE SENS Department
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