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OAO - Oando Plc - Recommendation of final dividend number 17 and bonus issue of

Release Date: 22/04/2008 15:26:01      Code(s): OAO
OAO - Oando Plc - Recommendation of final dividend number 17 and bonus issue of 
ordinary shares                                                                 
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    JSE Code      NG00000UNTPO                
Share code on the Nigerian Stock Exchange: UNTP                                 
("Oando" or "the Company")                                                      
Recommendation of final dividend number 17 and bonus issue of ordinary shares   
Dividend and bonus issue                                                        
The directors of Oando have recommended a final dividend of Six Naira (N6.00)   
per ordinary share of fifty kobo and bonus shares at the rate of one ordinary   
share of fifty kobo for every five ordinary shares of fifty kobo each held      
(2006: Naira 4.00 per ordinary share) for the twelve months to 31 December 2007.
The dividend has been recommended and will be declared in Naira, the currency of
Nigeria.  Both the dividend and the bonus issue are subject to the approval of  
shareholders at the Annual General Meeting to be held on 27 May 2008.           
The salient dates are:                                                          
Currency conversion at 11:00 South African time on    Monday, 21 April 2008     
Last day for trading to qualify for and participate   Wednesday 30 April 2008   
in the dividend (cum dividend)and Bonus issue in                                
South Africa                                                                    
Trading ex dividend & bonus issue in South Africa     Monday, 5 May 2008        
commences on                                                                    
Transfers between the Nigerian Register and the       5 May to 16 May 2008      
South African Register closed                                                   
Record date in South Africa                           Friday, 9 May 2008        
Record date in Nigeria                                Friday, 9 May 2008        
Register of members and Transfer Books closed in      12 May - 16 May 2008      
Annual general meeting                                Tuesday, 27 May 2008      
Announcement released confirming the dividend has     Wednesday 28 May 2008     
been declared and the bonus issue is unconditional                              
Dividend payment date in Nigeria                      Friday, 30 May 2008       
Dividend payment date in South Africa                 Wednesday, 4 June 2008    
(electronic and certificated register)                                          
Accounts with CSDPs and brokers credited in South     Friday 6 June 2008        
Africa or issue of new share certificates re the                                
bonus issue effected                                                            
On Wednesday, 4 June 2008, 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 Wednesday, 4    
June 2008 in respect of the dividend and on Friday 6 June 2008 in respect of the
bonus issue. Share certificates may not be dematerialised or rematerialised     
between Monday 5 May 2008 and Friday 9 May 2008 both days inclusive.            
Currency conversion                                                             
The currency conversion at 11:00 South African time on 21 April 2008 was 1 Rand 
= Naira 15.157. Accordingly, the dividend of Six Naira (N6.00) per ordinary     
share equates to 39.6 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
Five Naira Forty Kobo (N5.40) (35.64 cents per ordinary share).                 
22 April 2008                                                                   
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 22/04/2008 15:26:00 Supplied by www.sharenet.co.za                     
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