Requisition announcement

16 March 2012

South African Property Opportunities Plc

Requisition Notice

South African Property Opportunities Plc ("the Company") has received a requisition notice on behalf of shares ultimately beneficially owned by Principle Capital Investments Limited, an entity affiliated with the Company's former manager. The requisition notice asks the Company to convene an extraordinary general meeting to consider resolutions: (a) removing as directors John Chapman and Craig McMurray and (b) instructing the Company's three remaining directors to undertake a review of the Company's existing management arrangements and portfolio strategy in consultation with Currie Group (Pty) Limited.

The Company will respond in due course.

For further information, please contact:

Paul Fincham

Matrix Corporate Capital LLP

+44 (0)20 3206 7175

David Hunter

Chairman

+44 (0)141 204 4041