re Cautionary Announcement

ZCCM Invs.Hldgs PLC
11 July 2003


                                  (ZCCM-IH logo)
                          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 announcements dated 16 May and 18 June 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
11 July 2003


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


(logo)                                                    (logo)
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)



First issued 16 May 2003




                      This information is provided by RNS
            The company news service from the London Stock Exchange