South African Property Opportunities Regulatory News (SAPO)

9 February 2010

South African Property Opportunities plc

("SAPRO", the "Company")

South African Property Opportunities PLC today announces that it has received a claim from Proteus Property Partners Limited ("PPP"), the Company's investment manager, in respect of performance fees allegedly due to PPP of an amount of up to £5,101,304 plus interest and costs. The Company believes that the claim is without merit and intends to vigorously defend it.

PPP is also claiming for outstanding management fees of approximately £430,000 plus interest and costs. The Company is taking advice from its solicitors in relation to such claim.

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For further information, please contact:

Tim McCall/Lucinda Kemeny

Hogarth Partnership

+44 (0)20 7357 9477