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M-CELL LTD - CAUTIONARY ANNOUNCEMENT

Release Date: 31/07/2002 09:03
Code(s): MCE
Wrap Text

M-CELL LTD - CAUTIONARY ANNOUNCEMENT (Incorporated in the Republic of South Africa) Registration number 1994/009584/06 Share Code: MCE ISIN Code: ZAE000023115 CAUTIONARY ANNOUNCEMENT Shareholders will be aware of recent speculation relating to the M-Cell Group ("the group")`s potential exposure to the CNA Group ("CNA") arising out of transactions between M-Tel, MTN and CNA. The group will have an exposure to CNA should CNA be placed in final liquidation. The directors are taking legal advice, including the advice of senior counsel, on the group`s potential exposure to CNA and are and will continue to take appropriate steps to mitigate such exposure. A further announcement will be made once the position of CNA has been cleared and the effect of the legal advice considered. Shareholders should exercise caution in their dealings in M-Cell shares until a further announcement is made. Sandton 31 July 2002 Sponsor Merrill Lynch South Africa (Pty) Limited Date: 31/07/2002 09:03:00 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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