RNS Number:2118T
Genbel South Africa Ld
20 March 2002


                          GENBEL SOUTH AFRICA LIMITED
                 (Incorporated in the Republic of South Africa)
                      (Registration number 1949/032379/06)

                        Share code GBL ISIN ZAE00010054

                                   ("Genbel")

                       RENEWAL OF CAUTIONARY ANNOUNCEMENT


Further to the cautionary announcement dated 7 February 2002, shareholders are
advised that negotiations are still in progress. The successful outcome of these
negotiations could have an effect on the price of Genbel shares.

Accordingly, shareholders are advised to continue to exercise caution when
dealing in Genbel shares until a further announcement is made.

Johannesburg
20 March 2002


UK Secretaries

Project Consultants Limited

Walnut House

Walnut Gardens

Claydon

Banbury

Oxon

OX17 1NA

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