South African Property Opportunities Regulatory News (SAPO)

30 March 2011

South African Property Opportunities Plc

Litigation with Proteus Property Partners Limited

The Board of Directors of South African Property Opportunities Plc ("SAPRO" or the "Company") announces the following update in relation to the claim brought by Proteus Property Partners Limited ("Proteus") against SAPRO.

Judgment has today been delivered by the High Court in favour of Proteus in all material respects.  SAPRO has been ordered to pay the following amounts:

·; £5,074,180 in respect of the performance fee to 30 June 2009 and additional unpaid management fees to 31 March 2010;

·; approximately £360,000 for interest on such sums; and

·; Proteus' costs, which are yet to be assessed, but are expected to be less than £600,000.

As a result of the judgment, the Board of Directors estimates that the full amount of the claim as it now stands (including interest and costs) and additional management fees payable for the period after 31 March 2010 are in aggregate approximately £6.4 million.

For further information, please contact:

Paul Fincham

Matrix Corporate Capital LLP

+44 (0)20 3206 7175

Tim McCall/Lucinda Kemeny

MHP Communications

+44(0)20 3128 8100