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Thu 23 Sep 2004, 8:50 CAUTIONARY ANNOUNCEMENT
ABSA - CAUTIONARY ANNOUNCEMENT                                                  
ABSA GROUP LIMITED                                                              
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1986/003934/06)                                           
(`Absa`)                                                                        
JSE CODE: ASA                                                                   
Issuer code: AMAGB                                                              
ISIN CODE: ZAE000013389                                                         
CAUTIONARY ANNOUNCEMENT                                                         
Shareholders are advised that discussions are taking place which may or may not 
result in a controlling stake in Absa being acquired.  Such an offer could have 
a material effect on the price at which Absa securities trade.                  
These discussions have not yet reached a stage which requires a formal approach 
to the relevant regulators.                                                     
Accordingly, until a further announcement is made, shareholders are advised to  
exercise caution when dealing in Absa securities.                               
Johannesburg                                                                    
23 September 2004                                                               
Lead sponsor                                                                    
Merrill Lynch South Africa (Pty) Limited                                        
Co-sponsor                                                                      
Absa Corporate and Merchant Bank                                                
Date: 23/09/2004 08:42:05 AM                
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