SBL / ERM - Sable / Enterprise Risk Management - Withdrawal Of Cautionary

SBL / ERM - Sable / Enterprise Risk Management - Withdrawal Of Cautionary       
                                                 Announcement                   
SABLE HOLDINGS LIMITED               ENTERPRISE RISK MANAGEMENT LIMITED         
(Incorporated in the Republic of     (Incorporated in the Republic of           
South Africa)                        South Africa)                              
(Registration number -               (Registration number -                     
1968/010636/06)                      1995/001603/06)                            
(Share Code - SBL)                   (Share Code - ERM)                         
(ISIN Number - ZAE000006383)         (ISIN Number - ZAE000037701)               
("Sable")                            ("ERM")                                    
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT                                           
Further to the joint cautionary announcement dated 14 January 2008, shareholders
of both ERM and Sable are advised that, due to the current volatility in equity 
markets, ERM and Sable have mutually agreed to terminate merger discussions.    
Caution is accordingly no longer required to be exercised by shareholders when  
dealing in their securities.                                                    
Bryanston                                                                       
23 January 2008                                                                 
Joint sponsor to ERM and Sable                                                  
Sasfin Capital                                                                  
a division of Sasfin Bank Limited                                               
Date: 23/01/2008 14:36:24 Supplied by www.sharenet.co.za                     
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