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Thu 9 Sep 2004, 15:02 FURTHER CAUTIONARY ANNOUNCEMENT
Distribution and Warehousing Network Limited - Further Cautionary Announcement  
Distribution and Warehousing Network Limited                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 1984/008265/06)                                            
Share code: DAW   ISIN code: ZAE000018834                                       
(`DAWN` or `the Company`)                                                       
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcements dated 9 June 2004, 21 July 2004 and 29  
July 2004 shareholders are advised that negotiations are still in progress      
which, if successfully concluded, may have an effect on the price of the        
Company`s securities.                                                           
Accordingly, shareholders are advised to continue to exercise caution when      
dealing in the Company`s securities until a full announcement is made.          
Johannesburg                                                                    
9 September 2004                                                                
Corporate adviser                       Sponsor                                 
Bishop Corporate Finance (Pty) Ltd      Deloitte & Touche Sponsor               
                                        Services (Pty) Ltd                      
Date: 09/09/2004 03:00:06 PM                     
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