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Mon 18 Sep 2006, 8:52 Alexander Forbes Limited - Further cautionary anno
AFB
 AFB                                                                             
Alexander Forbes Limited - Further cautionary announcement                      
Alexander Forbes Limited                                                        
Registration number 1958/001974/06                                              
Share code:    AFB                                                              
ISIN:          ZAE000018230                                                     
("Alexander Forbes" or the "Company")                                           
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Shareholders are referred to the relevant cautionary announcements, the last of 
which was published on 21 August 2006, in terms of which shareholders were      
advised that the Company was in discussions with private equity parties         
regarding a potential transaction to acquire the entire issued share capital of 
the Company.                                                                    
Shareholders are now advised that discussions with a Consortium comprising      
private equity investors ("the Consortium") are continuing but that the         
Consortium has not yet submitted a binding offer for the Company.               
Shareholders are advised to continue to exercise caution in dealing in the      
Company"s securities until a further announcement is made.                      
Sandton                                                                         
18 September 2006                                                               
Financial adviser and sponsor to Alexander Forbes                               
JPMorgan                                                                        
Date: 18/09/2006 08:52:03 AM Produced by the JSE SENS Department                
                                                                                
                                                                                
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