Renewal: Cautionary

ZCCM Invs.Hldgs PLC
18 June 2003

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


   RENEWAL OF EXISTING CAUTIONARY ANNOUNCEMENT - PREFERRED BIDDER FOR KONKOLA
                                COPPER MINES PLC


Further to the cautionary announcement dated 16 May 2003, ZCCM-IH shareholders
are advised that negotiations are still in progress between ZCCM-IH, the
Government of the Republic of Zambia ('GRZ'), Zambia Copper Investments Limited,
Konkola Copper Mines plc ('KCM') and Sterlite Industries Limited ('Sterlite'),
the preferred bidder, on the terms of the proposed investment by Sterlite into
KCM.

Accordingly, ZCCM-IH shareholders are advised to continue exercising caution
when dealing in ZCCM-IH's securities until a full announcement is made.

Lusaka

First issued 16 May 2003

Financial Advisor to ZCCM-IH and GRZ                      Sponsoring Broker to ZCCM-IH


Standard Bank London Limited                              Cavmont Securities Limited
Authorised and regulated in the United Kingdom            (Registration number 30472)
by the Financial Services Authority                       (A member of the Lusaka Stock Exchange)
(Registration number 2130447)                             (Regulated in Zambia by the Securities Exchange
                                                          Commission of Zambia)

Date: 18 June 2003


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