Illovo Sugar Limited - Trading Update And Cautionary Announcement

Illovo Sugar Limited - Trading Update And Cautionary Announcement               
Illovo Sugar Limited                                                            
Company registration number 1906/000622/06                                      
Share Code: ILV                                                                 
ISIN: ZAE000003547                                                              
TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT                                      
This Trading Update and Cautionary Announcement is issued in accordance with the
revised Listings Requirements of the JSE Securities Exchange South Africa ("the 
revised JSE requirements"), which became effective on 1 September 2003.         
Operations in the current financial year are progressing well, with the         
production of cane and sugar as indicated at the Annual General Meeting of      
members held on 17 July 2003, remaining at approximately 5,6 million tons and   
2,2 million tons respectively. The Rand, however, continues to be considerably  
stronger compared to the same period last year and this is expected to result in
headline earnings for both the six months to 30 September 2003 expressed on a   
sugar season basis and the financial year to 31 March 2004 being materially     
lower (as defined in the revised JSE requirements) than those of the previous   
comparative periods.                                                            
The above earnings information has not been reviewed and reported on by the     
company"s auditors.  Shareholders are advised to exercise caution when dealing  
in the company"s securities until the publication of its interim results on or  
around 12 November 2003 when more detailed information will be provided.        
By order of the Board                                                           
Mount Edgecombe                                                                 
17 September 2003                                                               
Sponsor                                                                         
Cazenove                                                                        
Date: 17/09/2003 05:05:02 PM Supplied by www.sharenet.co.za                     
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