Zambeef Prod. Regulatory News (ZAM)

18 January 2013

Zambeef Products Plc

("Zambeef" or the "Company")

ZRA Hearing

Zambeef (AIM:ZAM), the fully integrated agri-business with operations in Zambia, Nigeria and Ghana, announces that, further to the announcement of 31 December 2012, the hearing of the Revenue Appeals Tribunal ( the "Tribunal") concluded yesterday.

Both Zambeef and the Zambian Revenue Authority ("ZRA") now have the opportunity to make written submissions and counter-submissions, to be received by the Tribunal within 10 weeks from the date of the conclusion of the hearing. At this point, the Company expects to receive direction as to when a final judgment will be handed down, at which point a further update will be provided to the market.

For further information, please contact:

Zambeef Products plc

Francis Grogan, Chief Executive Officer Tel: +260 (0) 9 7799 9001

Yusuf Koya, Executive Director Tel: +260 (0) 9 7799 9100

Strand Hanson Limited Tel: +44 (0) 20 7409 3494

Angela Hallett

James Spinney

Panmure Gordon Tel: +44 (0) 20 7886 2500

Callum Stewart

Hannah Woodley

Buchanan

Mark Edwards Tel: +44 (0) 20 7466 5000

Sophie McNulty

Notes to Editors

The Zambeef Group is one of the largest integrated agri-businesses in Zambia, involved in the primary production, processing, distribution and retailing of beef, chicken, pork, milk, eggs, dairy products, flour, bread, edible oils and stock feed, throughout Zambia and the surrounding region, as well as Nigeria and Ghana. The Group is also one of the largest cereal row cropping operations in Zambia, with approximately 8,350 hectares of irrigated and approximately 8,650 hectares of rain-fed, arable, developed land available for planting each year.

The Group has approximately 5,000 employees.

Further information can be found on www.zambeefplc.com

This publication is in line with standard practice for London Stock Exchange AIM listed Companies.