ILLOVO SUGAR LIMITED - UPDATED TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT

ILLOVO SUGAR LIMITED - UPDATED TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT    
ILLOVO SUGAR LIMITED                                                            
Company registration number 1906/000622/06                                      
Share Code: ILV                                                                 
ISIN: ZAE000003547                                                              
UPDATED TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT                           
This Trading Statement and Cautionary Announcement is issued in accordance with 
the revised Listings Requirements of the JSE Securities Exchange South Africa   
("the revised JSE requirements").                                               
Further to the Trading Update and Cautionary Announcement issued on 17 September
2003, and pursuant to the further strengthening of the rand, headline earnings  
for the six months to 30 September 2003 expressed on a sugar season basis and   
for the financial year to 31 March 2004 are both now expected to be             
substantially 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 continue 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                                                                 
15 October 2003                                                                 
Sponsor:                                                                        
Cazenove South Africa (Pty) Limited                                             
Date: 15/10/2003 05:42:02 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department