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Transpaco Limited - Cautionary Announcement                                     
TRANSPACO LIMITED                                                               
(Incorporated in the Republic of South Africa)                                  
(Registration number  1951/000799/06)                                           
Share code:  TPC   ISIN: ZAE000007480                                           
Cautionary announcement                                                         
The Company is considering various proposals in relation to its affairs         
including Black Economic Empowerment. Shareholders are advised that successful  
conclusion of these proposals could have a material effect on the price of      
Transpaco shares. Accordingly, shareholders should exercise caution when dealing
in Transpaco shares until an announcement is made.                              
For and on behalf of the board                                                  
Johannesburg                                                                    
7 October 2004                                                                  
Sponsor                         Legal Advisor                                   
Investec Bank Limited           Werksmans Inc.                                  
Date: 07/10/2004 02:15:11 PM                    
Produced by the JSE SENS Department

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