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DEMERGER OF LONRHO AFRICA LITIGATION UPDATE

Release Date: 12/03/1998 08:44
Code(s): LON
Wrap Text

ON PAGE 31 OF LONRHO'S CIRCULAR TO ITS SHAREHOLDERS DATED 4 MARCH 1998,
INFORMATION WAS PROVIDED IN RELATION TO CERTAIN PREPARATORY PROCEEDINGS BEFORE
THE SOUTH AFRICAN COURTS CONCERNING THE INSTITUTION OF AN ACTION AGAINST IMPALA
PLATINUM HOLDINGS LIMITED AND CERTAIN OF ITS RELATED PARTIES FOR DAMAGES IN
RESPECT OF AN ALLEGED BREACH OF WARRANTY.

JUDGEMENT HAS TODAY BEEN GIVEN IN SOUTH AFRICA IN RELATION TO SUCH PREPARATORY
PROCEEDINGS, THE EFFECT OF WHICH IS THAT THE RELEVANT LONRHO COMPANIES ARE
INTERDICTED FROM COMMENCING AN ACTION IN RELATION TO THE ALLEGED BREACH ITSELF.
LONRHO INTENDS TO LODGE AN APPEAL AGAINST THIS JUDGEMENT, AND TO PURSUE THE
MATTER VIGOROUSLY. THE COMPANY'S SOUTH AFRICAN LEGAL ADVISERS CONTINUE TO
ADVISE THAT LONRHO'S PROSPECTS OF SUCCESS, IN BOTH THE APPEAL OF THE

PREPARATORY PROCEEDINGS AND THE BREACH OF WARRANTY CLAIM ITSELF, REMAIN GOOD.
DATED 11 MARCH 1998

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