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Tue 14 Dec 2004, 17:50 Further Cautionary Announcement
Bearing Man Limited - Further Cautionary Announcement                           
Bearing Man Limited                                                             
(Incorporated in the Republic of South Africa)                                  
Registration number 1955/002109/06                                              
Share Code: BRM  ISIN: ZAE000001137                                             
(`Bearing Man` or `the company`)                                                
Further Cautionary Announcement                                                 
Further to the cautionary announcements dated 2 August 2004,13 September 2004   
and 1 November 2004, shareholders are advised that negotiations are still in    
progress regarding a possible black economic empowerment transaction, which if  
successfully concluded, may have a material effect on the price of the company`s
securities.                                                                     
Accordingly, shareholders are advised to continue to exercise caution when      
dealing in the company`s securities until a further announcement is made.       
14 December 2004                                                                
Attorneys to Bearing Man                                                        
Bernadt Vukic Potash & Getz Attorneys                                           
Corporate Advisor                                                               
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
Registration no. 1970/003711/07                                                 
Sponsor                                                                         
Nedbank Capital
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