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CAUTIONARY ANNOUNCEMENT

Shareholders are advised that the board of directors of the Company is
considering a proposal that may result in the Company being delisted from the
JSE Securities Exchange South Africa (“the Delisting Proposal”).

Should the Delisting Proposal be implemented, then to facilitate an exit for
those shareholders that do not wish to remain shareholders in an unlisted
environment, an offer will be made to purchase all their shares in the Company
by a consortium led by HCI management for a cash amount of 330 cents per share
(“the Offer”).
Shareholders will be advised by way of a full announcement should the Company
resolve to proceed with the Delisting Proposal and the Offer. Pending a further
announcement HCI shareholders are advised to exercise caution in dealing in
their HCI shares.