DAWN - Further cautionary announcement

DAWN - Further 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" or "the Company")                                                       
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcement dated 9 June 2004, shareholders are      
advised that negotiations are still in progress which, if successfully          
concluded, may have an effect on the price of the Company"s securities.         
Accordingly, shareholders are advised to continue to exercise caution when      
dealing in the Company"s securities until a full announcement is made.          
Johannesburg                                                                    
21 July 2004                                                                    
Corporate adviser                Sponsor                                        
Bishop Corporate Finance (Pty)   Deloitte & Touche Sponsor                      
Ltd                              Services (Pty) Ltd                             
Date: 21/07/2004 09:00:10 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department