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Tue 15 Feb 2005, 18:02 BLACK ECONOMIC EMPOWERMENT (BEE) TRANSACTION
ASPEN - CAUTIONARY ANNOUNCEMENT - BLACK ECONOMIC EMPOWERMENT (BEE) TRANSACTION  
ASPEN                                                                           
ASPEN PHARMACARE HOLDINGS LIMITED                                               
(Incorporated in the Republic of South Africa)                                  
(Registration number 1985/002935/06)                                            
Share code: APN         ISIN: ZAE000023586                                      
(`Aspen`)                                                                       
CAUTIONARY ANNOUNCEMENT - BLACK ECONOMIC EMPOWERMENT (BEE) TRANSACTION          
Further to the withdrawal of the cautionary announcement dated 14 December 2004,
shareholders are advised that negotiations in respect of the proposed BEE       
transaction have been resumed. These negotiations are aimed at the structuring  
of a BEE ownership transaction which takes into account the principles set out  
in draft Codes of Good Practice on Broad Based Black Economic Empowerment.      
If successfully concluded, these negotiations could have a material effect on   
the price of Aspen shares. Accordingly, Aspen shareholders should exercise      
caution when dealing in their Aspen shares.                                     
Woodmead                                                                        
15 February 2005                                                                
Sponsor to Aspen               Attorneys                                        
Investec Bank Limited          Werksmans Inc.                                   
Date: 15/02/2005 05:11:19 PM                   
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