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IND
 IND                                                                             
Independent Financial Services Limited - 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" or the "company")                                                        
CAUTIONARY ANNOUNCEMENT                                                         
Shareholders are advised that IFS is in 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 further announcement is made.                      
Bryanston                                                                       
2 May 2006                                                                      
Sponsor                                                                         
Java Capital (Proprietary) Limited                                              
Legal advisor                                                                   
Fluxmans Attorneys Inc.                                                         
Date: 02/05/2006 09:50:29 AM Produced by the JSE SENS Department                
                                                                                
                                                                                

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