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Fri 26 Nov 2004, 14:36 CAUTIONARY ANNOUNCEMENT
Messina Limited - Cautionary Announcement                                       
MESSINA LIMITED                                                                 
(Incorporated in the Republic of South Africa)                                  
(Registration Number: 1950/035912/06)                                           
Share Code: MES                                                                 
ISIN:       ZAE000004438                                                        
(`Messina`)                                                                     
CAUTIONARY ANNOUNCEMENT                                                         
Further to the announcement released on SENS on 25 November 2004 regarding      
discussions between Southern Platinum Corp. and various parties on a range of   
alternatives to replace or eliminate the syndicated project debt facility,      
shareholders are advised that there are discussions relating to Messina which   
may have a material effect on the price of Messina securities.                  
Accordingly, shareholders are advised to exercise caution when dealing in       
Messina securities until a further announcement is made.                        
Rosebank                                                                        
26 November 2004                                                                
Merchant Bank and Sponsor                                                       
RAND MERCHANT BANK, A division of FirstRand Bank Limited, CORPORATE FINANCE     
Date: 26/11/2004 02:35:01 PM                      
Produced by the JSE SENS Department
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