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Mon 31 Jan 2005, 15:09 Cautionary Announcement
Argent Industrial Limited - Cautionary Announcement                             
ARGENT INDUSTRIAL LIMITED                                                       
(Registration number 1993/002054/06)                                            
Share code: ART     ISIN: ZAE000019188                                          
(`Argent` or `the company`)                                                     
CAUTIONARY ANNOUNCEMENT                                                         
LPC Manhattan Sponsors (Pty) Limited are authorised to announce that            
negotiations are currently in progress, which, if successfully concluded, may   
have a material effect on the share price of Argent.                            
Accordingly, shareholders are advised to exercise caution when dealing in their 
shares until a further announcement is made.                                    
Roodepoort                                                                      
31 January 2005                                                                 
Sponsor                                                                         
LPC MANHATTAN                                                                   
LPC Manhattan Sponsors (Pty) Limited                                            
Registration number 1999/012479/07
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