ARGENT INDUSTRIAL LIMITED - FURTHER CAUTIONARY ANNOUNCEMENT

ARGENT INDUSTRIAL LIMITED - FURTHER CAUTIONARY ANNOUNCEMENT                     
ARGENT INDUSTRIAL LIMITED                                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number 1993/002054/06)                                           
(Share code: ART  ISIN:  ZAE000019188)                                          
("Argent" or "the Company")                                                     
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Shareholders are referred to the cautionary announcement published in the press 
on 2 December 2003, and are advised that negotiations are still in progress,    
which, if successfully concluded, may have a material effect on the share price 
of Argent.                                                                      
Accordingly, shareholders are advised to continue to exercise caution when      
dealing in their Argent shares until a further announcement is made.            
Roodepoort                                                                      
29 January 2004                                                                 
Sponsor                                                                         
LPC Manhattan Sponsors (Pty) Limited                                            
Registration number 1999/012479/07                                              
Date: 29/01/2004 07:00:05 AM Supplied by www.sharenet.co.za                     
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