CASHBUILD - PRESS RELEASE

PAT GOLDRICK, THE MD OF CASHBUILD, MADE THE FOLLOWING COMMENTS IN FOLLOW-UP ON
THEIR PROFIT WARNING.
1. YEAR END RESULTS

IN FINALISING THE FINANCIAL STATEMENT FOR THE YEAR TO 24TH JUNE 2000 CERTAIN
DISCREPANCIES RELATING TO INVENTORY HAVE ARISEN FROM THE PROCESS OF

RECONCILIATION.  THESE DIFFERENCES ARE BEING CAREFULLY INVESTIGATED BEFORE THE
FINAL GROUP RESULTS ARE ANNOUNCED, CORRECTIVE ACTION HAS BEEN TAKEN, BUT
EXPECTED EARNINGS PER SHARE ARE TO BE SUBSTANTIALLY LESS THAN 55 CENTS PER
SHARE AS ANTICIPATED BY ANALYSTS.
2. FURTHER INFORMATION.

DESPITE VERY TOUGH TRADING CONDITIONS IN THE SECOND HALF YEAR AS A RESULT OF
EXTREME WET WEATHER, WHICH SEVERELY HAMPERED THE BUILDING INDUSTRY AND BUILDING
SUPPLY TRADE, CASHBUILD, FOR THE 4TH CONSECUTIVE YEAR, ON THE SAME BASE OF 94
STORES, INCREASED ITS:
 - MARKET SHARE
 - SALES
 - CUSTOMER TRANSACTIONS

 SUBSTANTIALLY REDUCED ITS BORROWING AND INTEREST CHARGES PLUS CONTAINED ITS
OPERATING COSTS
3. PROSPECTS FOR GROWTH

THE FIRST NEW CASHBUILD STORE FOR THE CURRENT YEAR WAS OPENED IN SWAZILAND
DURING AUGUST 2000 AND MORE NEW STORES ARE IN THE PLANNING STAGE. THE COMPANY
IS INHERENTLY SOUND AND IT IS ON TRACK TO ACHIEVE THE GROWTH AND RESULTS AS
BUDGETED FOR THE YEAR ENDED JUNE 2001.