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Thu 25 Jan 2007, 15:36 ERM SBL
ERM   SBL
 ERM   SBL                                                                       
ERM - ERM - SBL - Sable - Joint Cautionary announcement                         
Enterprise Risk Management Limited                                              
Incorporated in the Republic of South Africa                                    
(Registration number:                                                           
1995/001603/06)                                                                 
Share code: ERM                                                                 
ISIN: ZAE000037701                                                              
("ERM" or "the company")                                                        
Sable Holdings Limited                                                          
Incorporated in the Republic of                                                 
South Africa                                                                    
(Registration number                                                            
1968/010636/06)                                                                 
Share code: SBL                                                                 
ISIN: ZAE000006383                                                              
("SABLE" or "the company")                                                      
JOINT CAUTIONARY ANNOUNCEMENT                                                   
Shareholders are advised that ERM and Sable have entered into discussions which,
if successfully concluded, may have a material effect on the price of both      
companies` securities.  Accordingly shareholders are advised to exercise caution
when dealing in the securities of both companies until a further announcement is
made.                                                                           
25 January 2007                                                                 
Johannesburg                                                                    
Corporate advisor and sponsor to ERM and Sable                                  
SASFIN CAPITAL                                                                  
A DIVISION OF SASFIN BANK LIMITED                                               
Date: 25/01/2007 15:16:02 Produced by the JSE SENS Department.
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