Zambia Copper Investments
Limited
(Registered in Bermuda)
("ZCI")
             
             
                                    
FURTHER CAUTIONARY ANNOUNCEMENT
                                    
Further to the cautionary announcements dated 16 May 2003, 27 June  2003
and  8 August 2003, shareholders are advised that negotiations are still
in  progress between ZCI, the Government of the Republic of Zambia, ZCCM
Investments Holdings plc, 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, ZCI shareholders are advised to continue exercising caution
when dealing in ZCI's securities until a detailed announcement is made.

Bermuda
2 October 2003