M&R - FURTHER CAUTIONARY ANNOUNCEMENT

MURRAY & ROBERTS HOLDINGS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 05/29826/06)
("M&R" OR "THE GROUP")
FURTHER CAUTIONARY ANNOUNCEMENT

FURTHER TO THE CAUTIONARY ANNOUNCEMENT DATED 4 JUNE 1998, SHAREHOLDERS OF M&R
ARE ADVISED THAT THE PROCESS REGARDING THE DISPOSAL OF THE GROUP'S INVESTMENT
IN CEMENT, QUARRYING AND READY MIXED CONCRETE ACTIVITIES IS CONTINUING
SATISFACTORILY.  SEVERAL OFFERS HAVE BEEN RECEIVED AND THE DUE DILIGENCE
PROCEDURES ARE NEARING COMPLETION.

THE SUCCESSFUL COMPLETION OF THESE NEGOTIATIONS MAY HAVE AN EFFECT ON THE PRICE
AT WHICH M&R SHARES TRADE ON THE JOHANNESBURG STOCK EXCHANGE. ACCORDINGLY,
SHAREHOLDERS ARE ADVISED TO CONTINUE EXERCISING CAUTION WHEN DEALING IN M&R
SHARES.

A FURTHER ANNOUNCEMENT WILL BE MADE TO SHAREHOLDERS ON COMPLETION OF THESE
NEGOTIATIONS, OR AS THE NEED ARISES.
BY ORDER OF THE BOARD
LJ LINDSAY
SECRETARY
BEDFORDVIEW
16 JULY 1998
FINANCIAL ADVISOR

DEUTSCHE MORGAN GRENFELL (SA) (PROPRIETARY) LIMITED
(REGISTRATION NO. 95/11798/07)
LEGAL ADVISOR
EDWARD NATHAN & FRIEDLAND INC
(REGISTRATION NUMBER 77/00525/21)
JOINT SPONSORING BROKERS
MERRYL LYNCH
SMITH BORKUM HARE(PTY)LTD
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
REGISTRATION NUMBER 95/01805/07
FLEMING MARTIN SECURITIES LTD
REGISTRATION NUMBER: 95/11815/06
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE