THE BIDVEST GROUP LIMITED - CAUTIONARY ANNOUNCEMENT

THE BIDVEST GROUP LIMITED - CAUTIONARY ANNOUNCEMENT                             
THE BIDVEST GROUP LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1946/021180/06)                                            
ISIN: ZAE00008132                                                               
Share code: BVT                                                                 
("the company")                                                                 
CAUTIONARY ANNOUNCEMENT                                                         
Shareholders are advised that the company has entered into negotiations which,  
if successfully concluded, may have an effect on the market price of the        
company"s ordinary shares on the JSE Securities Exchange South Africa.          
Shareholders are accordingly advised to exercise caution in dealing in their    
ordinary shares until a further announcement is made.                           
By order of the Board                                                           
Johannesburg                                                                    
23 October 2003                                                                 
Merchant Bank and Lead Sponsor:                                                 
Investec Bank Limited                                                           
(Registration number 1969/004763/06)                                            
Joint Sponsor:                                                                  
Deutsche Securities                                                             
Member of the Deutsche Bank Group                                               
Deutsche Securities (SA) (Proprietary) Limited                                  
(Registration number 1995/011798/07)                                            
Date: 23/10/2003 12:40:02 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department