Kakuzi Ld
28 February 2003

                                 KAKUZI LIMITED

ANNOUNCEMENT OF RESULTS FOR THE YEAR ENDED 31 DECEMBER 2002

RESULTS      
                                                                   
                                                                                                                     
                                                                                         2002                    2001 
                                                                                      Shs'000                 Shs'000 
  Sales                                                                             1,082,190               1,250,943
                                           Continuing operations       1,060,033                1,167,247            
                                           Discontinued operations        22,157                   83,696            
  Operating profit                                                                     70,498                   1,744
                                           Continuing operations           71,599                  18,493            
                                           Discontinued operations        (1,101)                (16,749)            
  Finance costs (net)                                                                (62,027)                (97,678)
  Profit/(loss) before tax                                                              8,471                (95,934)
                                           Continuing operations           12,104                (69,478)            
                                           Discontinued operations        (3,633)                (26,456)            
  Tax                                                                                   (388)                  41,767
  Profit/(loss) after tax                                                               8,083                (54,167)
  Minority interests                                                                    (490)                   8,944
  Profit/(loss) attributable to the                                                                                  
  members of Kakuzi Limited                                                             7,593                (45,223)

                                                                                          Shs                     Shs 
  Basic earnings/(loss) per stock unit                                                   0.39                  (2.31)
  Diluted earnings/(loss) per stock unit                                                 0.39                  (2.31)

Note:      The subsidiary Garton Limited, disposed of on 27 February 2002, is
reported as discontinued operations.

The above results are extracted from financial statements audited by
PricewaterhouseCoopers, certified public accountants, and on which an
unqualified opinion has been given.

Despite 2002 proving to be an extremely challenging year during which coffee
prices persisted at very low levels and tea prices weakened, it is pleasing to
report that Kakuzi Limited returned to profitability.  The main factors
contributing to this turnaround were the successful avocado season and a
reduction in the cost of borrowings.

DIVIDEND

The Directors do not recommend the payment of a dividend for the year 2002.

ANNUAL GENERAL MEETING

The Annual General Meeting of the company will be held on Wednesday 21 May 2003
at 12.00 noon in the Allamanda Room, Serena Hotel, Nairobi, Kenya.

BY ORDER OF THE BOARD


DR T R FOWKES
CHAIRMAN



P O BOX 24, THIKA 01000, KENYA
27 FEBRUARY 2003




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