Pinnacle Technology Holdings Limited                                            
   Incorporated in the Republic of South Africa                                 
Registration number 1986/000334/06                                           
   Share code: PNC  ISIN: ZAE000022570                                          
   ("Pinnacle" or "the company")                                                
CAUTIONARY ANNOUNCEMENT                                                         
Pinnacle shareholders are advised that the board of directors are considering
proposals which could lead to the company being delisted from the JSE Securities
Exchange South Africa ("the JSE"), as well as a payment to minority shareholders
in the form of either a cash offer for their entire shareholding in the company 
or a cash payment to such shareholders on the basis that the operations or      
subsidiary companies of Pinnacle are sold for cash.                             
Shareholders are accordingly advised to exercise caution in dealing in their    
shares on the JSE until a further announcement is made in this regard.          
Midrand                                                                      
   1 July 2003                                                                  
Sponsor                                                                         
   LPC Manhattan Sponsors (Pty) Ltd                                             
(Registration number 1999/024792/07)