DISPOSAL OF ILLOVO'S 80,25% INTEREST IN MON TRESOR & MON DESERT LTD

ILLOVO SUGAR LIMITED
  (Incorporated in the Republic of South Africa)
  (Registration number 1906/000622/06)
  ("Illovo")

Further cautionary announcement and the disposal of Illovo's 80,25% interest in
Mon Tresor and Mon Desert Limited (Mauritius)

Further to the cautionary announcement dated 5 February 2001, ING Barings is
authorised to announce that, subject to fulfilment of certain conditions
precedent as set out below, agreement in principle has been reached in terms of
which a consortium, advised by Brait International Limited and

PricewaterhouseCoopers Mauritius will acquire Illovo's 80,25% interest in Mon
Tresor and Mon Desert Limited (Mauritius)")MTMD ) for a total cash

consideration of approximately R472 million")the transaction ), including an
amount equivalent to its anticipated year end dividend.

The transaction is subject to the following conditions precedent, inter alia:
* the signing of a final sale agreement between Illovo and the consortium;
* obtaining the approval of the Prime Minister's office of the Republic of
Mauritius and all required regulatory consents, including the JSE Securities
Exchange South Africa, the South African Reserve Bank and the Port Louis Stock
Exchange;

* the satisfactory completion of a due diligence by the consortium; and
* the consortium finalising the required debt portion of the funding.

It is anticipated that the effective date of the transaction will be on or
about 2 April 2001.

Illovo shareholders are accordingly advised to continue to exercise caution
when dealing in their Illovo shares until a detailed announcement, including
the financial effect of the transaction, is published.
Mount Edgecombe
14 February 2001
Financial adviser and sponsor to Illovo
  Ing Barings
Corporate advisors to the consortium
  Brait
  PricewaterhouseCoopers Inc.
  (Registration no. 1998/012055/21)
exit