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Wed 13 Oct 2004, 17:46 CAUTIONARY ANNOUNCEMENT
HOSKEN CONSOLIDATED INVESTMENTS LIMITED - CAUTIONARY ANNOUNCEMENT               
HOSKEN CONSOLIDATED INVESTMENTS LIMITED                                         
(Incorporated in the Republic of South Africa)                                  
(Registration number 1973/007111/06)                                            
(ISIN: ZAE000003257)  (Share code: HCI)                                         
(`HCI` or `the Company`)                                                        
 CAUTIONARY ANNOUNCEMENT                                                        
HCI shareholders are informed that HCI has formally notified the board of      
directors of Putco Limited (`Putco`) that it intends to make a formal offer     
(`the Offer`) to acquire control of Putco via a scheme of arrangement in terms  
of Section 311 of the Companies Act, 1973 (Act 61 of 1973), as amended.         
HCI shareholders will be informed of material developments in relation to the   
Offer as and when these occur.                                                  
As a result of the above, HCI shareholders are advised to exercise caution when 
dealing in the Company`s shares until a further announcement is made.           
13 October 2004                                                                 
Durban                                                                          
Sponsor                                                                         
Nedbank Capital                                                                 
Corporate advisor to HCI                                                        
HJS Advisory Services (Proprietary) Limited
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