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Tue 6 Jul 2004, 17:35 ALPINA INVESTMENTS LIMITED - CAUTIONARY ANNOUNCE
ALPINA INVESTMENTS LIMITED   - CAUTIONARY ANNOUNCEMENT                         
   ALPINA INVESTMENTS LIMITED                                                     
  Formerly Gold Edge Holdings Limited                                             
  (Incorporated in the Republic of South Africa)                                  
  (Registration number: 1997/21085/06)                                            
  Share Code: ALA                                                                 
  ISIN: ZAE000048377                                                              
  (`Alpina` or `the company`)                                                     
  CAUTIONARY ANNOUNCEMENT                                                         
  Shareholders are advised that Alpina has signed a heads of agreement to acquire 
  properties to the value of approximately R200 million. These acquisitions are   
  subject to the completion of a due diligence investigation, property valuations 
  and legal agreements being concluded to the satisfaction of the parties.        
  In addition, the directors are contemplating a restructuring of the company`s `a
  class` and `b-class` linked units into a single linked unit, which may have a   
  material effect on the price of the company`s securities.                       
  The implementation of the above transactions may result in a change of control  
  in Alpina.                                                                      
  Shareholders are accordingly advised to exercise caution when dealing in the    
  company`s securities until a full announcement is made.                         
  Johannesburg                                                                    
  07 July 2004                                                                    
  Sponsor                                                                         
  Imara Corporate Finance South Africa (Pty) Ltd                                  
  Date: 06/07/2004 05:22:02 PM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
                                                                                  
  



 
 

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