Impala Platinum Holdings Limited - Cautionary Announcement                      
  Impala Platinum Holdings Limited                                                
  (Incorporated in the Republic of South Africa)                                  
  Registration No. 1959/001979/06                                                 
  Share code: IMP / IMPO                                                          
  ISIN: ZAE 000003554                                                             
  ("Implats")                                                                     
  Impala Platinum Holdings Limited Cautionary Announcement                        
  Shareholders are referred to the joint announcement of today"s date by Implats  
  and Lonmin Plc regarding Implats" 27,1% stake in Eastern Platinum Limited and   
  Western Platinum Limited.                                                       
  Shareholders are advised that although there can be no assurance that           
  negotiations will be successfully concluded, the transaction may have a material
  effect on the company"s securities.                                             
  Accordingly, shareholders are advised to exercise caution when dealing in the   
  company"s securities until a full announcement is made.                         
  Johannesburg                                                                    
  18 September 2003                                                               
  Issued by Sponsor: Deutsche Securities (SA) (Proprietary) Limited               
  Date: 18/09/2003 10:31:01 AM Produced by the JSE SENS Department