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Earnings upgrade

23 March 2004

Earnings upgrade and cautionary announcement

Retail sales in the Edgars chain and United Retail (incorporating Jet, Sales House, Cuthberts and Legit) over the past eleven weeks since the last quarterly trading update, have exceeded the Board's expectations. As a result, the growth in headline earnings per share for the full year to March 2004 is now expected to materially exceed the 73% reported at the interim stage.

As there are only two more trading weeks in the current financial year, this prospects statement has not been audited and investors are accordingly advised to trade in the Edcon share with caution. A preliminary announcement detailing the audited results for the year to March 2004 will be published on 12 May 2004.

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