JOHNNIC / JOHNCOM CAUTIONARY, WITHDRAWAL OF M-CELL CAUTIONARY

JOHNNIC HOLDINGS LIMITED

  (formerly Johnnies Industrial Corporation Limited)
  (Incorporated in the Republic of South Africa)
  (Registration number 1889/000429/06)
  ("Johnnic")
JOHNNIC COMMUNICATIONS LIMITED
  (formerly Omni Media Corporation Limited)
  (Incorporated in the Republic of South Africa)
  (Registration number 1889/000352/06)
  ("Johncom")
M-CELL LIMITED
  (Incorporated in the Republic of South Africa)
  (Registration number 1994/009584/06)
  ("M-Cell")
(collectively "the Johnnic group")

FURTHER CAUTIONARY ANNOUNCEMENT AND WITHDRAWAL OF THE M-CELL CAUTIONARY
ANNOUNCEMENT

Further to the cautionary announcement dated 9 January 2001 providing certain
details of the further restructuring of the Johnnic Group ("the proposed
restructuring"), Standard Corporate and Merchant Bank is authorised to announce
that details of the proposed restructuring are currently still in the process
of being reviewed.

The proposed restructuring, if implemented, may have a material effect on the
prices of Johnnic and Johncom shares. Accordingly, shareholders are advised to
continue exercising caution when dealing in the shares of these companies until
a further announcement is made.

The negotiations regarding M-Cell, referred to in the last cautionary

announcement, are currently in abeyance. Accordingly, the cautionary
announcement regarding M-Cell is withdrawn.
Johannesburg
27 February 2001
Merchant bank and lead sponsor
  SCMB
  Standard Corporate and Merchant Bank

  (A division of The Standard Bank of South Africa Limited)
  (Registration number 1962/000738/06)
Sponsoring broker
  Merrill Lynch South Africa (Pty) Ltd
  Registered sponsor and

  Member of the JSE Securities Exchange South Africa
  Registration number 1995/001805/07
Tax advisers
  Deloitte & Touche
  Finstruct Financial Services
Merchant bank
  Investec Corporate Finance
  Investec Bank Limited
  (Registration number 1969/004763/06)
Attorneys
  Webber Wentzel Bowens