IMPALA PLATINUM HOLDINGS LIMITED - FURTHER CAUTIONARY ANNOUNCEMENT              
  Impala Platinum Holdings Limited                                                
  (Incorporated in the Republic of South Africa)                                  
  Registration number: 1957/001979/06                                             
  JSE Share code: IMP/IMPO                                                        
  ISIN: ZAE000003554                                                              
  ("Implats")                                                                     
  FURTHER CAUTIONARY ANNOUNCEMENT                                                 
  Shareholders are referred to the joint announcement by Implats and Lonmin plc   
  regarding Implats" 27,1% stake in Eastern Platinum Limited and Western Platinum 
  Limited dated 12 May 2004.                                                      
  Shareholders are advised to continue to exercise caution when dealing in the    
  company"s securities until a further announcement is made.                      
  Johannesburg                                                                    
  12 May 2004                                                                     
  Sponsor:                                                                        
  Deutsche Securities                                                             
  Date: 12/05/2004 04:46:01 PM Produced by the JSE SENS Department