ASPEN PHARMACARE HOLDINGS LIMITED - TRADING STATEMENT AND CAUTIONARY

ASPEN PHARMACARE HOLDINGS LIMITED - TRADING STATEMENT AND CAUTIONARY            
ANNOUNCEMENT                                                                    
ASPEN PHARMACARE HOLDINGS LIMITED                                               
(Incorporated in the Republic of South Africa)                                  
(Reg. No 1955/002935/06)                                                        
Share Code: ASP       ISIN: ZAE000023586                                        
("Aspen")                                                                       
Trading statement and cautionary announcement                                   
In terms of the Listings Requirements of the JSE Securities Exchange South      
Africa ("the JSE Listing Requirements") a listed company is required to publish 
a trading statement as soon as it becomes aware that the financial results for  
the next period to be reported on will be materially different from those of the
previous corresponding period.                                                  
Due to the consistent positive performance of the Aspen Group, it is forecast   
that the results for the six months ended 31 December 2003 will be materially   
higher than those of last year ("materially" being a difference of between 10%  
and 30% increase or decrease as defined in the JSE Listings Requirements).      
As the forecast has not been reviewed or reported on by Aspen"s auditors        
shareholders are advised to exercise caution when dealing in Aspen shares until 
the release of the interim announcement of results for the six months ended 31  
December 2003 which are expected to be published on or about 19 February 2004.  
By order of the board                                                           
Durban                                                                          
15 January 2004                                                                 
Sponsor : Investec Bank Limited                                                 
Date: 15/01/2004 10:38:02 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department