Real Africa Holdings Limited - Further Announcement Regarding The Potential Cash

Real Africa Holdings Limited - Further Announcement Regarding The Potential Cash
Offer To Acquire All The Ordinary Shares In RAH                                 
REAL AFRICA HOLDINGS LIMITED                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 1994/003919/06)                                            
Share code: RAH                                                                 
ISIN: ZAE000008702                                                              
("RAH" or "the Company")                                                        
FURTHER ANNOUNCEMENT REGARDING THE POTENTIAL CASH OFFER TO ACQUIRE ALL THE      
ORDINARY SHARES IN RAH                                                          
Shareholders are referred to the Sun International Limited ("Sun International")
SENS announcement of 27 March 2006 and the RAH SENS announcement of 28 March    
2006, regarding Sun International"s unsolicited proposed intention to acquire   
the entire issued share capital of RAH by way of a scheme of arrangement in     
terms of section 311 of the Companies Act No. 61 of 1973, as amended, at a price
of R5.90 per RAH share ("the Proposed Offer").                                  
Shareholders are advised that the RAH Board continues to seek out value adding  
opportunities for RAH shareholders at all times. Accordingly, the RAH Board has 
responded to Sun International regarding the unsolicited Proposed Offer to      
inform it that the terms as proposed undervalue the Company and are not         
acceptable. The RAH Board is and remains available to discuss any proposal which
will enhance shareholder value.                                                 
Bryanston                                                                       
12 April 2006                                                                   
SPONSOR                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited) CORPORATE FINANCE     
Date: 12/04/2006 11:25:28 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department