Cautionary Notice

ZCCM Invs.Hldgs PLC
05 November 2004


                             --------------------
                       ZCCM Investments Holdings plc
                    Incorporated in the Republic of Zambia
                         (Registered number 771)
                            Share code: ZCCM-IH
                              ISIN:ZM0000000037
                                  ('ZCCM-IH')
                              --------------------


        COMPLETION OF THE INTRODUCTION OF A STRATEGIC EQUITY PARTNER FOR
                            KONKOLA COPPER MINES PLC


Further to the detailed terms and further cautionary announcement of ZCCM-IH
dated 20 August 2004 ('the terms announcement'), the board of ZCCM-IH is
authorised to announce that all conditions precedent necessary to complete the
introduction of Vedanta Resources plc ('Vedanta') as the new strategic equity
partner for Konkola Copper Mines plc ('KCM') ('the transaction') were fulfilled
on 5 November 2004.  Consequently, all remaining steps necessary to implement
the transaction, as detailed in the terms announcement, were completed on
5 November 2004.  The new shareholding structure of KCM is thus Vedanta (51%
equity interest), ZCCM-IH (20.6% equity interest) and Zambia Copper Investments
Limited (28.4% equity interest).

Shareholders are referred to the cautionary announcements published over the
period 16 May 2003 to 20 August 2004 and are advised that as the transaction has
been completed, caution is no longer needed.

By order of the board

Financial Advisor to ZCCM-IH and Government of    Sponsoring Broker to ZCCM-IH
the Republic of Zambia

Standard Bank London Limited is a firm            Cavmont Stockbrokers Limited
authorised and regulated by the Financial
Services Authority in the United Kingdom
(Registration number 2130447)                     A member of the Lusaka Stock
                                                  Exchange
                                                  Regulated in Zambia by the
                                                  Securities and Exchange
                                                  Commission of Zambia
                                                  (Registration number 52224)


  Issued at Lusaka, Zambia by Cavmont Stockbrokers Limited on 5 November 2004.


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