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Wed 26 Jan 2005, 16:45 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, 1
November 2004 and 14 December 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.                                                   
26 January 2005                                                                 
Attorneys to Bearing Man                                                        
Bernadt Vukic Potash & Getz Attorneys                                           
Corporate Advisor                                                               
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
Registration no. 1970/003711/07                                                 
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 26/01/2005 04:26:02 PM                     
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