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OAO - Oando Plc - Recommendation of Final Dividend Number 16

Release Date: 16/04/2007 13:31:03      Code(s): OAO
OAO - Oando Plc - Recommendation of Final Dividend Number 16                    
Oando Plc                                                                       
(Incorporated in Nigeria and registered as an external company in South Africa) 
Registration number RC6474                                                      
(External company registration number 2005/038824/10)                           
Share code on the JSE Limited: OAO                                              
ISIN: NG00000UNTP0                                                              
Share code on the Nigerian Stock Exchange: UNTP                                 
("Oando" or "the Company")                                                      
Recommendation of final dividend number 16                                      
The directors of Oando have recommended a final dividend of Four Naira (Naira   
4.00) per ordinary share (2005: Naira 2.50 per ordinary share) for the twelve   
months to 31 December 2006. The dividend has been recommended and will be       
declared in Naira, the currency of Nigeria.  The salient dates are:             
Currency conversion at 11:00 South African time on  Monday, 16 April 2007       
Last day for trading to qualify for and             Thursday, 19 April 2007     
participate in the dividend (cum dividend)in South                              
Trading ex dividend in South Africa commences on    Friday, 20 April 2007       
Record date in South Africa                         Thursday, 26 April 2007     
Record date in Nigeria                              Friday, 27 April 2007       
Register of members and Transfer Books Closed in    30 April - 4 May 2007       
Annual general meeting                              Monday, 21 May 2007         
Warrants posted in Nigeria                          Tuesday, 22 May 2007        
Dividend payment date in South Africa (electronic   Friday, 25 May 2007         
and certificated register)                                                      
On Friday, 25 May 2007, dividends due to certificated shareholders on the South 
African registry will either be electronically transferred to shareholders` bank
accounts or, in the absence of suitable mandates, dividend cheques will be      
posted to such shareholders.                                                    
Shareholders who hold dematerialised shares will have their accounts, at their  
Central Securities Depository Participant or broker credited on Friday, 25 May. 
Share certificates may not be dematerialised or rematerialised between Friday,  
20 April 2007 and Thursday, 26 April 2007 both days inclusive.                  
Currency conversion                                                             
The currency conversion at 11:00 South African time on 16 April 2007 was 1 Rand 
= Naira 17.965. Accordingly, the dividend of Naira 4.00 per ordinary share      
equates to 22.26552 cents per ordinary share.                                   
Withholding tax                                                                 
Shareholders are advised that a withholding tax of 10% is payable by all        
shareholders on the dividend. Accordingly the dividend net of withholding tax is
Naira 3.60 (20.03896 cents per ordinary share).                                 
16 April 2007                                                                   
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 16/04/2007 13:31:02 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  

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