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Oao - Oando Plc - Cautionary Announcement

Release Date: 02/04/2008 10:00:01      Code(s): OAO
OAO - Oando Plc - Cautionary announcement                                       
Oando Plc                                                                       
(Incorporated in Nigeria and registered as an external company in South         
Africa)                                                                         
Registration number: RC 6474                                                    
(External company registration number: 2005/038824/10)                          
Share Code on the JSE Limited: OAO                                              
Share Code on the Nigerian Stock Exchange: UNTP                                 
ISIN: NG00000UNTP0                                                              
("Oando")                                                                       
Cautionary announcement                                                         
Shareholders are referred to the announcement which was released on SENS on 25  
February 2008 ("the announcement") detailing the potential acquisition by       
Oando of Shell`s entire 49.81% interest in the Production Sharing Contracts     
and Joint Operating Agreement respectively in respect of offshore Nigeria Oil   
Mining Licence ("OML") 125 and OML 134. Shareholders are advised that certain   
of the principal conditions precedent will not be satisfied. Discussions have   
commenced regarding a revised transaction structure. Accordingly, shareholders  
are advised to exercise caution when dealing in Oando securities until a        
further announcement is made.                                                   
Johannesburg                                                                    
2 April 2008                                                                    
Sponsor                                                                         
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 02/04/2008 10:00:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
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howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.                                          



                                        
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