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Thu 30 Sep 2004, 18:22 ANNOUNCEMENT
ENTERPRISE RISK MANAGEMENT LIMITED - ANNOUNCEMENT                               
ENTERPRISE RISK MANAGEMENT LIMITED                                              
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1995/001603/06)                                           
(JSE Code: ERM & ISIN Code: ZAE000037701)                                       
ANNOUNCEMENT                                                                    
Shareholders are referred to the results announcement made on Wednesday 22      
September 2004. The Company has submitted a business plan to the JSE Securities 
Exchange South Africa (`JSE`) for the purpose of assessing the suitability of   
the company`s continued listing on the JSE. The JSE is currently in the process 
of reviewing the business plan in consultation with the board of directors of   
the Company and the Company`s listing status will remain unchanged until such   
time as the review has been completed.                                          
Further details will be made available to shareholders in due course.           
Johannesburg                                                                    
30 September 2004                                                               
SPONSOR                                                                         
EXCHANGE SPONSORS (PTY) LIMITED                                                 
(Registration number: 1999/024433/07)
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