CASHBUILD FURTHER CAUTIONARY ANNOUNCEMENT

FURTHER CAUTIONARY ANNOUNCEMENT
CASHBUILD
THE BUILDERS' DISCOUNT STORE
CASHBUILD LIMITED
(REGISTRATION NUMBER 86/01503/06)
("CASHBUILD")
FURTHER CAUTIONARY ANNOUNCEMENT

FURTHER TO THE CAUTIONARY ANNOUNCEMENT DATED 22 JUNE 1999, SHAREHOLDERS OF
CASHBUILD ARE ADVISED THAT THE CONDITION PRECEDENT, PERTAINING TO AN AGREEMENT
ENTERED INTO BETWEEN CASHBUILD'S HOLDING COMPANY, PEPKOR LIMITED ("PEPKOR") AND
ITALTILE LIMITED ("ITALTILE") FOR THE DISPOSAL BY PEPKOR TO ITALTILE OF ITS
ENTIRE SHAREHOLDING IN CASHBUILD FOR CASH, HAVE NOT BEEN MET IN THAT THE
DIRECTORS OF ITALTILE HAVE NOT GIVEN THEIR UNCONDITIONAL APPROVAL TO THE
TRANSACTION, WITH THE RESULT THAT SUCH DISPOSAL HAS NOT BEEN GIVEN EFFECT TO.
SUBSEQUENT THERETO, PEPKOR ENTERED INTO A CONDITIONAL AGREEMENT WITH A
CONSORTIUM OF PURCHASERS LED BY THE MANAGEMENT OF CASHBUILD ("THE CONSORTIUM")
FOR THE DISPOSAL TO THE CONSORTIUM OF PEPKOR'S ENTIRE SHAREHOLDING IN CASHBUILD
FOR CASH. THE SALIENT FEATURES OF SUCH SALE ARE AS FOLLOWS:

1. PURCHASE PRICE PER SHARE: R3,10 EXCLUDING DIVIDEND.
2. EFFECTIVE DATE: 1 JULY 1999.

3. DATE ON WHICH CONDITIONS MUST BE MET: 19 AUGUST 1999.

4. DATE OF PAYMENT OF PURCHASE PRICE: 6 SEPTEMBER 1999.

THIS ENTIRE TRANSACTION IS CONDITIONAL TO THE SUBMISSION OF A CASH GUARANTEE
FOR PAYMENT OF THE PURCHASE PRICE TO THE MINORITY SHAREHOLDERS OF CASHBUILD, BY
THE CONSORTIUM TO THE SECURITIES REGULATION PANEL.

SHAREHOLDERS ARE ADVISED TO CONTINUE TO EXERCISE CAUTION IN DEALING IN THEIR
CASHBUILD SHARES UNTIL A FURTHER ANNOUNCEMENT CONFIRMING COMPLIANCE OR NOT WITH
THE CONDITIONS AND, IF SO ALSO PROVIDING DETAILS ABOUT THE SALIENT DATES AND
THE FINANCIAL EFFECTS OF THE OFFER TO MINORITIES.
JOHANNESBURG
23 JULY 1999
SPONSORING BROKER
BOE SECURITIES (PTY) LTD
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
CO. REG. NO. 96/15589/07
CORPORATE ADVISOR TO THE CONSORTIUM