OLG - Onelogix - acquisition of Press Support (Proprietary) Limited and

OLG - Onelogix - acquisition of Press Support (Proprietary) Limited and         
withdrawal of cautionary announcement                                           
Onelogix Group Limited                                                          
Incorporated in the Republic of South Africa)                                   
(Registration number 1998/004519/06)                                            
(Share code OLG    ISIN: ZAE000026399)                                          
("Onelogix"")                                                                   
ANNOUNCEMENT IN RESPECT OF THE ACQUISITION OF PRESS SUPPORT (PROPRIETARY)       
LIMITED AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT                               
1    Introduction                                                               
Java Capital is authorised to announce that Onelogix has acquired Press Support 
(Proprietary) Limited (Registration No. 1996/010852/07) ("Press Support"), a    
newspaper and magazine distribution business.                                   
All of the issued shares in Press Support, together with all the claims of      
shareholders against Press Support, have been acquired from the current         
shareholders, the Eaton family, the Raath family and Mr Marcus Gooderham ("the  
vendors").                                                                      
The business of Press Support is complimentary to the Media Express business of 
Onelogix. Following the acquisition, Onelogix will offer an independent "end-to-
end" printed media distribution solution. Further, Onelogix`s PostNet business  
offers additional distribution channels for the Press Support business, offering
substantial growth opportunities.                                               
2    Effective date and conditions precedent                                    
The acquisition of Press Support is effective 1 April 2007, subject to          
fulfilment of the following conditions:                                         
*    the disposal by Press Support of certain investment properties not utilised
    in the business operations of Press Support;                                
*    the signature by key executives of the Press Support, including Mr Jeremy  
    Eaton, the current managing director, of written service and restraint of   
    trade agreements; and                                                       
*    the satisfactory conclusion by Onelogix of a due diligence investigation of
the business and operations of Press Support.                               
3    Management of Press Support                                                
Following implementation of the acquisition, Jeremy Eaton will continue to      
manage the daily operations of Press Support and will be appointed a non-       
executive director of Onelogix (Proprietary) Limited, the Onelogix group        
operating company.                                                              
4    Press Support purchase price                                               
The purchase price payable to the vendors is up to a maximum amount of R22 425  
000, as follows:                                                                
*    On the implementation date, a cash amount of R5 250 000 together with      
    interest at the prime rate minus 2% calculated from the effective date to   
    the implementation date; plus the issue and allotment to the vendors of     
such number of Onelogix shares at an issue price of 69 cents per share as   
    are equal to R5 250 000;                                                    
*    Three months after the implementation date the issue and allotment to the  
    vendors of such number of Onelogix shares at an issue price per share equal 
to the lesser of (i) the volume weighted average market price at which      
    Onelogix shares traded on the JSE over the three month period from 8        
    February 2007 and (ii) R1,00, as are equal to R5 250 000; and               
*    On the first anniversary of the effective date, a further cash amount of   
between R1 425 000 and R6 675 000. The determination of this final cash     
    payment is based on the achievement of certain profit warranties by Press   
    Support between the effective date and the first anniversary thereof.       
The Onelogix shares that are issued to the sellers in partsettlement of the     
purchase price are subject to trading restrictions.                             
5    Pro forma financial effects                                                
The pro forma financial effects of the acquisition set out in the table below   
are the responsibility of the Onelogix directors and have been prepared for     
illustrative purposes only, to show how the acquisition may have affected the   
company`s published results for the six month period ended 30 November 2006     
("the interim results"). Due to their nature the pro forma financial effects may
not fairly present the company`s financial position, changes in equity, results 
of operations or cash flows following implementation of the acquisition.        
                               Before the       After the      Percentage       
                               acquisition      acquisition    change           
   Net asset value per share   35.7             43.3           21.5%            
(cents)                                                                      
   Net tangible asset value    25.6             23.4           (8.7%)           
   per share (cents)                                                            
    Notes:                                                                      
1    The "Before the acquisition" column reflects the net asset value       
         ("nav") per share and net tangible asset value ("ntav") per share as   
         published in the interim results;                                      
    2    The "After the acquisition" column reflects what the nav per share and 
ntav per share at 30 November 2006 would have been had the effective   
         date of the acquisition been 30 November 2006;                         
    3    The calculation in the "After the acquisition" column is based on 197  
         273 000 shares in issue;                                               
4    The pro forma effect of the acquisition on earnings per share and      
         headline earnings per share on the interim results is not significant. 
6    Amendment of articles                                                      
The board of Onelogix confirms that the articles of association of Press Support
will be amended to comply with the JSE`s Listings Requirements.                 
7    Withdrawal of cautionary announcement                                      
The cautionary announcement to shareholders published on 20 March 2007 and      
updated on 20 March 2007 is hereby withdrawn.                                   
Rosebank                                                                        
25 April 2007                                                                   
Designated Advisor, Corporate Advisor and Legal Advisor:                        
Java Capital (Proprietary) Limited                                              
Date: 25/04/2007 17:11:03 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.