Distribution and Warehousing Network Limited - Trading Update And Cautionary

Distribution and Warehousing Network Limited - Trading Update And Cautionary    
Announcement                                                                    
Distribution and Warehousing Network Limited                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 1984/008265/06)                                            
Share code: DAW, ISIN code: ZAE000018834                                        
          ("DAWN")                                                              
TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT                                      
Shareholders are advised that earnings per share and headline earnings per share
for the interim period ended 31 December 2003 will be substantially higher      
("substantially" being a change equal to or greater than 30%, as defined by the 
Listings Requirements of the JSE Securities Exchange South Africa) than those of
the prior comparative period. Further details will be provided when DAWN"s      
interim results for the six months ended 31 December 2003 are published on or   
about 26 February 2004.                                                         
As the forecast has not been reviewed or reported on by DAWN"s auditors,        
shareholders are advised to exercise caution when dealing in DAWN"s shares until
the release of the interim announcement of results for the six months ended 31  
December 2003.                                                                  
Johannesburg                                                                    
6 February 2004                                                                 
Sponsor                                                                         
Deloitte & Touche Sponsor Services                                              
Date: 06/02/2004 04:25:03 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department