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Fri 25 Feb 2005, 16:50 SPECIAL DIVIDEND DECLARATION
IFS - Special Dividend Declaration and renewal of cautionary announcement       
Independent Financial Services Limited                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1950/037061/06)                                            
Share code: IND     ISIN code: ZAE000025300                                     
(`IFS`)                                                                         
SPECIAL DIVIDEND DECLARATION AND RENEWAL OF CAUTIONARY ANNOUNCEMENT             
Special dividend declaration                                                    
The directors have declared a special dividend of 14 cents per share. The       
relevant dates are:                                                             
Last date to trade in IFS shares `cum` the dividend    Friday, 11 March 2005    
IFS shares to commence trading `ex` the dividend       Monday, 14 March 2005    
Record date to participate in the dividend             Friday, 18 March 2005    
Payment date                                           Tuesday, 22 March 2005   
IFS shares may not be dematerialised or rematerialised between Monday, 14 March 
2005 and Friday, 18 March 2005, both dates inclusive.                           
Renewal of cautionary announcement                                              
Further to the announcement dated 5 October 2004, shareholders are advised that 
negotiations are being finalised for the disposal of the last remaining assets  
of IFS, which if successfully concluded, will have a material effect on the     
price of the securities of IFS, and, accordingly, shareholders are advised to   
continue exercising caution in their dealings in IFS shares pending a further   
announcement.                                                                   
Johannesburg                                                                    
25 February 2005                                                                
Sponsor                                                                         
Merchant Sponsors (Proprietary) Limited                                         
Date: 25/02/2005 04:47:51 PM                      
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