NASPERS/M-WEB - CAUTIONARY ANNOUNCEMENT

NASPERS LIMITED
  (Incorporated in the Republic of South Africa)
  (Registration number 1925/001431/06)
  ("Naspers")
M-WEB HOLDINGS LIMITED
  (Incorporated in the Republic of South Africa)
  (Registration number 1997/004269/06)
  ("M-Web")
Cautionary announcement

The boards of M-Web and Naspers are of the view that, given current market
conditions, M-Web should be delisted. It is being considered that an offer be
made to the M-Web shareholders, other than Naspers and any of its subsidiaries
("the minorities"), in terms of which the minorities would be entitled to
receive shares in Naspers, the controlling shareholder of M-Web ("the offer").
The M-Web board is presently in the process of appointing an independent
adviser to advise it, inter alia, on the proposed offer.

Accordingly, shareholders are advised to exercise caution when dealing in their
shares until a further announcement is made.
Cape Town
6 April 2001
Merchant bank
  Investec Bank Limited
  (Registration number 1969/004763/06)
Sponsor to M-Web
  UBS Warburg Securities South Africa (Pty) Ltd
  A financial services group of UBS AG

  (Member of the JSE Securities Exchange South Africa)
  (Registration number 1995/011140/07)
Sponsor to Naspers and M-Web
  Investec Securities Limited
  Member of the JSE
  Registration No. 1972/008905/06