ABK - African Brick Centre Limited - Cautionary announcement

ABK - African Brick Centre Limited - Cautionary announcement                    
AFRICAN BRICK CENTRE LIMITED                                                    
(Incorporated in the Republic of South Africa)                                  
Registration Number:  1999/006214/06)                                           
Share Code: ABK ISIN:ZAE000105169                                               
("African Brick" or "the Company" or "the Group")                               
CAUTIONARY ANNOUNCEMENT                                                         
Shareholders are referred to the rights offer circular dated 30 August 2010     
wherein it was stated that the working capital available to the African Brick   
Group, subsequent to the rights offer, would be adequate for the next twelve    
months after the completion of the rights offer, if fully subscribed for.       
In the event that the rights offer was not fully subscribed for and no other    
rights other than that of Yakani Infraco (Proprietary) Limited, the controlling 
shareholder of African Brick, was subscribed for, then the African Brick Group  
would have to undertake further means to ensure the adequacy of working capital 
for the next twelve months.                                                     
The number of rights offer shares subscribed for was 396,279,079 ordinary shares
representing 59.03% of the total number of rights offer shares available for    
subscription.                                                                   
In this regard, the disposal of portion 554 (a portion of portion 543) of the   
farm Boschkop, No. 199 I.Q Honeydew ("the Honeydew property") was authorised by 
the Board and subsequently sold.  The Honeydew property was sold unconditionally
and not subject to any financing.  However, the buyer informed the Board that it
could not raise the full purchase price and as a result, the agreement of sale  
is now in the process of being re-negotiated.                                   
Shareholders are accordingly advised to exercise caution when dealing in the    
Company`s securities until a full announcement regarding the sale of the        
Honeydew property is made.                                                      
Johannesburg                                                                    
24 March 2011                                                                   
Designated Adviser                                                              
Grindrod Bank Limited                                                           
Date: 24/03/2011 09:31:00 Supplied by www.sharenet.co.za                     
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