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OAO - Oando Plc - Exchange control provisions applicable to South African

Release Date: 18/02/2010 11:27:02      Code(s): OAO
OAO - Oando Plc - Exchange control provisions applicable to South African       
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: NGOANDO00002                                                              
("Oando" or "the Company")                                                      
The distribution of this announcement, the Rights Issue, and the transfer of the
Rights Issue shares and/or the rights to subscribe for the Rights Issue shares  
in jurisdictions other than the Federal Republic of Nigeria or South Africa may 
be restricted by law and failure to comply with any of those restrictions may   
constitute a violation of the laws of any such jurisdiction. Neither this       
announcement, nor any form of instruction, may be regarded as an offer in any   
jurisdiction in which it is illegal to make such an offer, and in particular, is
not for distribution in the United States of America, Australia, United Kingdom,
Canada or Japan.  In those circumstances, this announcement is for information  
purposes only.                                                                  
It is the responsibility of any person outside the Federal Republic of Nigeria  
or South Africa (including, without limitation, nominees, agents and trustees   
for such persons) receiving this announcement and wishing to take up rights     
under the Rights Issue, to satisfy himself as to full observance of the         
applicable laws of any relevant territory, including obtaining any requisite    
governmental or other consents, observing any other requisite formalities and   
paying any issue, transfer or other taxes due in such territories.              
Further to the rights issue circular posted to Oando shareholders on Monday, 1  
February 2010 and the various announcements released the latest being on        
Tuesday, 17 February 2010, relating to the proposed rights issue of 301 694 876 
ordinary shares of 50 kobo each at Naira 70.00 (ZAR 3.49) per share on the basis
of one (1) new ordinary share for every three (3) ordinary shares of 50 kobo    
each held as at the close of business on Friday, 29 January 2010, being the     
Friday prior to the offer opening date for South African shareholders ("the     
Rights Issue"), Oando would like to draw attention to the following exchange    
control provisions applicable to South African shareholders or their renouncees,
where applicable:                                                               
South African institutional investors may exercise their rights and/or apply for
excess shares in terms of the Rights Issue using their permissible foreign      
portfolio investment allowances.  South African institutional investors will be 
given 12 months to realign their portfolios should they be in excess of their   
exchange control foreign exposure limits;                                       
South African corporates, banks, trusts, partnerships and private individuals   
may exercise their rights and/or apply for excess shares in terms of the Rights 
Issue without restriction; and                                                  
Emigrants are not permitted to trade in inward listed securities.               
18 February 2010                                                                
Leading Issuing House                                                           
Vetiva Capital Management Limited                                               
Joint Issuing Houses                                                            
FCMB Capital Markets Limited                                                    
A member of First City Group                                                    
Stanbic IBTC Bank plc                                                           
A member of the Standard Bank Group                                             
Sponsor to Oando in South Africa                                                
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 18/02/2010 11:27:02 Supplied by www.sharenet.co.za                     
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