DAWN - Adoption of the DAWN Share Appreciation Rights Scheme

DAWN - Adoption of the DAWN Share Appreciation Rights Scheme                    
Distribution and Warehousing Network Limited                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 1984/008265/06)                                            
Share code: DAW & ISIN code: ZAE000018834                                       
("DAWN")                                                                        
Adoption of the DAWN Share Appreciation Rights Scheme, the DAWN Long Term       
Incentive Plan and the DAWN Deferred Bonus Plan and the proposed amendment to   
the DAWN Share Incentive Scheme                                                 
Shareholders are advised that a circular containing details of the adoption of  
the DAWN Share Appreciation Rights Scheme, the DAWN Long Term Incentive Plan and
the DAWN Deferred Bonus Plan ("the New Schemes") and the proposed amendment to  
the DAWN Share Incentive Scheme ("Existing Scheme") will be posted to           
shareholders on Tuesday, 21 November 2006.                                      
The circular will include a notice to shareholders convening a general meeting  
to be held at 12h30 on Wednesday, 6 December 2006 to enable shareholders to     
consider and if deemed fit to approve, with or without modification, the        
resolutions required to implement the New Schemes and the amendment to the      
Existing Scheme.                                                                
Johannesburg                                                                    
20 November 2006                                                                
Sponsor                                Share Scheme and Tax Advisors            
Deloitte & Touche Sponsor Services     PricewaterhouseCoopers Inc.              
Date: 20/11/2006 05:41:03 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department