SOV - Sovereign Food Investments Limited - Trading statement, site visit and

SOV - Sovereign Food Investments Limited - Trading statement, site visit and    
investor presentation and change to the board of directors                      
SOVEREIGN FOOD INVESTMENTS LIMITED                                              
Incorporated in the Republic of South Africa                                    
Registration Number 1995/003990/06                                              
JSE Code: SOV                                                                   
ISIN Number: ZAE000009221                                                       
("Sovereign" or "the Company" or "the Group")                                   
TRADING STATEMENT, SITE VISIT AND INVESTOR PRESENTATION AND CHANGE TO THE BOARD 
OF DIRECTORS                                                                    
1    Trading Statement                                                          
In accordance with paragraph 3.4 of the Listings Requirements of the JSE    
    Limited ("Listings Requirements"), Sovereign is required to publish a       
    trading statement as soon as it is reasonably certain that the financial    
    results for the period to be reported on next will differ by at least 20%   
from those of the previous corresponding period.                            
    Sovereign shareholders ("Shareholders") are advised that Sovereign`s        
    earnings and headline earnings for the 6 months ending 31 August 2010, are  
    expected to be at least 20% lower than those for the 6 months ended 31      
August 2009.                                                                
    Average poultry selling prices were very weak during the first 4 months of  
    the financial year ending 28 February 2011 ("FY11") as a result of higher   
    imports, weaker consumer demand and slightly elevated national supply. The  
2010 World Cup has had a negative effect on average poultry selling prices  
    through the drawing in of larger import volumes during June 2010 due to     
    anticipated demand. Average poultry selling prices for the first 4 months   
    of FY11 were 12% lower than the average poultry prices for the previous     
corresponding period. Notwithstanding pricing pressures, the Group achieved 
    record production and sales volumes with the highest ever monthly sales     
    volumes recorded in June 2010 with 8 580 tons sold.                         
    The financial information on which this trading statement is based has not  
been reviewed and/or reported on by the Company`s auditors.                 
2    Site Visit and Investor Presentation                                       
    Shareholders are invited to attend a site visit and investor presentation   
    to be held at the business premises of the Company, being Kruis River Road, 
Uitenhage, on Tuesday 27 July 2010 where investors and analysts will attend 
    a site visit followed by an investor presentation by management regarding   
    Sovereign`s operations.                                                     
    A copy of the investor presentation will be made available on the Company`s 
website at www.sovereignfoods.co.za on 27 July 2010.                        
    Shareholders and investors wishing to attend the site visit and investor    
    presentation should contact Tanya Peffer at tpeffer@sovfoods.co.za in order 
    to make further arrangements in this regard.                                
3    Change to the Board of Directors                                           
    In accordance with paragraph 3.59 of the Listings Requirements,             
    Shareholders are advised of the resignation of Ms Khanyisile Kweyama, who,  
    as a result of timing constraints introduced by other external business     
commitments, has resigned as a Non-executive Director of Sovereign with     
    immediate effect.                                                           
    The Chairman and the Sovereign board of directors would like to thank Ms    
    Kweyama for the substantial contribution she has made to the Company during 
her tenure as a Non-executive Director of Sovereign.                        
Port Elizabeth                                                                  
21 July 2010                                                                    
Sponsor: One Capital                                                            
Date: 21/07/2010 08:57:03 Supplied by www.sharenet.co.za                     
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