Micromega Holdings Limited

Micromega Holdings Limited                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/003821/06)                                            
ISIN Code: ZAE000034435                                                         
Share Code: MMG                                                                 
("Micromega" or "the Company")                                                  
Cautionary announcement                                                         
The directors of Micromega, in response to the recent decline of the share      
price, would like to state that the company is not under investigation by       
the South African Revenue Services and they are not aware of any                
circumstances which may give rise to such an investigation by the South         
African Revenue Services against the company. Shareholders are also advised     
that there are developments relating to the company, the full impact of         
which are currently being determined and which may have a material effect on    
the price of the company`s shares. Accordingly, shareholders are advised to     
exercise caution when dealing in their shares until a full announcement is      
made.                                                                           
Johannesburg                                                                    
16 April 2002                                                                   
Sponsor                                                                         
HSBC                                                                            
Date: 16/05/2002 05:37:00 PM Produced by the SENS Department