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Mon 14 Feb 2005, 13:52 CAUTIONARY ANNOUNCEMENT
AFRICAN LIFE ASSURANCE COMPANY LIMITED - CAUTIONARY ANNOUNCEMENT                
African Life Assurance Company Limited                                          
(Incorporated in the Republic of South Africa)                                  
Registration number: 1911/003818/06                                             
JSE Share Code: AFI                                                             
ISIN Code: ZAE000000246                                                         
(`African Life` or `the Company`)                                               
CAUTIONARY ANNOUNCEMENT                                                         
Shareholders are advised that African Life has entered into negotiations, which 
if successfully concluded may have a material effect on the price of the        
Company`s securities. Accordingly, shareholders are advised to exercise caution 
when dealing in the Company`s securities until a full announcement is made.     
Houghton                                                                        
14 February 2005                                                                
Corporate Advisor                                 Sponsor                       
Metier Investment & Advisory Services (Pty) Ltd   Merrill Lynch SA (Pty) Ltd    
Date: 14/02/2005 01:44:58 PM                    
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