NMBZ Holdings Ld
11 September 2002


                              NMBZ HOLDINGS LIMITED

                                Holding company of
                 NMB Bank Limited (Registered Commercial Bank)
              and Continental Securities Trading (Private) Limited


                            CAUTIONARY ANNOUNCEMENT


'Shareholders are advised that negotiations referred to in previous cautionary
statements have been deferred.

Consequently, the Directors have decided to withdraw the scrip dividend
alternative offered in the published interim results for the half-year ended 30
June 2002.  A cash dividend will be paid as announced.'


By Order of the Board

M B Narotam                                     First Transfer Secretaries (Private Limited)
Company Secretary                               13th Floor
Fourth Floor, Unity Court                       Century Towers
Corner First Street/Kwame Nkrumah Avenue        Samora Machel Avenue
Harare, Zimbabwe                                Harare, Zimbabwe



                                                               11 September 2002



Enquiries:

Corinna Dorward                                 Tel: +44 20 7457 2020
College Hill
78 Cannon Street
London EC4N 6HH
United Kingdom



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