Labat Africa Limited - Termination Of Discussions And Withdrawal Of

Labat Africa Limited - Termination Of Discussions And Withdrawal Of             
Cautionary Announcement                                                         
Labat Africa Limited                                                            
(formerly Acrem Holdings Limited)                                            
   (Incorporated in the Republic of South Africa)                               
   (Registration number 1986/001616/06)                                         
   JSE Share code: LAB   ISIN: ZAE000018354                                     
("Labat")                                                                    
TERMINATION OF DISCUSSIONS WITH ALLIED TECHNOLOGIES LIMITED AND                 
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT                                           
1. INTRODUCTION                                                                 
Shareholders are referred to the announcement of 3 May 2002 where Labat      
advised shareholders of a proposed transaction with Allied Technologies         
Limited ("Altech") where Labat, subject to certain suspensive conditions,       
was to dispose of certain businesses ("Labat businesses") to Altech Data        
(Proprietary) Limited ("Altech Data"), a wholly owned subsidiary of Altech,     
in accordance with Section 228 of the Companies Act, 1973 (Act 61 of 1973)      
("disposal").                                                                   
2. TERMINATION OF DISCUSSIONS                                                   
The parties could not agree on the price and the funding for the Altech      
Data businesses and therefore the parties have mutually decided to terminate    
discussions regarding the disposal.                                             
3. WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT                                        
As the discussions between the parties have been terminated shareholders     
are advised that caution is no longer required when dealing with Labat          
shares on the JSE Securities Exchange South Africa.                             
   Johannesburg                                                                 
21 June 2002                                                                 
Corporate advisor                                                               
  Brait                                                                         
Attorneys to Labat                                                              
Evan Scop Attorneys                                                           
Sponsor to the transaction                                                      
  Brait Sponsors (Proprietary) Limited                                          
  (Registration number 2000/031069/07)                                          
Date: 21/06/2002 05:22:00 PM Produced by the SENS Department