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Thu 7 Jul 2005, 13:26 Further Cautionary Announcement
Combined Motor Holdings Limited - Further Cautionary Announcement               
COMBINED MOTOR HOLDINGS LIMITED                                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1965/000270/06)                                            
Share code: CMH   ISIN code: ZAE000001541                                       
(`the Company` or `the Group`)                                                  
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcement dated 2 June 2005, shareholders are      
advised that the Group has entered into a memorandum of understanding with Forza
Group (Proprietary) Limited. The final terms and conditions are still in the    
process of being negotiated. To expedite matters, an application has been       
submitted to the Competition Commission South Africa.                           
The transaction relates to the acquisition of inter alia, various motor vehicle 
dealerships, panel beating and repair shops, used motor vehicle dealerships and 
shareholdings and claims on loan accounts.                                      
Accordingly, shareholders are advised to exercise caution when dealing in the   
Company`s securities until a detailed terms announcement is made.               
7 July 2005                                                                     
Durban                                                                          
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
(Registration no: 1970/003711/07)
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