OPT - Optimum - Update regarding the Consortium`s Expression of Interest to

OPT - Optimum - Update regarding the Consortium`s Expression of Interest to     
acquire the entire Issued Share Capital of Optimum and reminder of Cautionary   
Announcement                                                                    
Optimum Coal Holdings Limited                                                   
(Registration number: 2006/007799/06)                                           
JSE share code: OPT                                                             
ISIN: ZAE000144663                                                              
("Optimum")                                                                     
UPDATE REGARDING THE CONSORTIUM`S EXPRESSION OF INTEREST TO ACQUIRE THE ENTIRE  
ISSUED SHARE CAPITAL OF OPTIMUM AND REMINDER OF CAUTIONARY ANNOUNCEMENT         
Shareholders of Optimum ("Shareholders") are referred to the announcements      
released on SENS by Optimum on 17 August 2011, 26 August 2011, 1 September 2011,
9 September 2011, 13 October 2011, 16 November 2011 and 19 March 2012 in respect
of the transactions entered into by a consortium comprising of Piruto B.V, a    
wholly-owned subsidiary of Glencore International AG, and Lexshell 849          
Investments (Proprietary) Limited, a company wholly-owned by Mr Cyril Ramaphosa 
("the Consortium"), to acquire control of Optimum.  Shareholders are further    
referred to the announcement released by the Consortium on 27 March 2012.       
The board of Optimum ("the Board") confirms that it has received a letter from  
the Consortium indicating its firm intention to make a mandatory offer to       
acquire all of the shares in Optimum that it does not already own or control for
an offer consideration of R38 per Optimum share ("the Offer").  The Independent 
Committee of the Board is currently considering the Offer and will communicate  
its views to Shareholders in due course.                                        
Shareholders are reminded to continue to exercise caution when dealing in       
Optimum shares until a further announcement is made.                            
www.optimumcoal.com                                                             
27 March 2012                                                                   
Johannesburg                                                                    
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Financial Communications Advisers                                               
COLLEGE HILL                                                                    
Date: 27/03/2012 16:37:02 Supplied by www.sharenet.co.za                     
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