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Tisec - Cautionary Announcement                                                 
Tisec Limited                                                                   
(Registration No: 1997/010036/06)                                               
(Incorporated in the Republic of South Africa)                                  
(`Tisec` or `the company`)                                                      
JSE Code: TSC  -  ISIN CODE: ZAE000018131                                       
CAUTIONARY ANNOUNCEMENT                                                         
Shareholders are advised that Tisec 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.          
Johannesburg                                                                    
15 June 2004                                                                    
Sponsor                                                                         
Imara Corporate Finance South Africa (Pty) Ltd                                  

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