Bidvest /Namsea - Voluntary Offer to All Shareholders of Namsea Other Than

     Bidvest /Namsea - Voluntary Offer to All Shareholders of Namsea Other Than 
                       Bidvest                                                  
     The Bidvest Group Limited                                                  
(Incorporated in the Republic of South Africa)                             
     (Registration number 1946/021180/06)                                       
     (Share Code: BVT                                                           
     ISIN: ZAE000050449)                                                        
("Bidvest")                                                                
     Namibian Sea Products Limited                                              
     (Incorporated in the Republic of Namibia)                                  
     (Registration number 709/1953)                                             
(South African share code: NMS)                                            
     (Namibian share code: NAS & ISIN: NA0008640246)                            
     ("Namsea")                                                                 
     VOLUNTARY OFFER TO ALL SHAREHOLDERS OF NAMSEA OTHER THAN BIDVEST           
1.   Introduction                                                          
          Shareholders are referred to the announcement by Namsea on March 27   
          2006, announcing that Bidvest increased its shareholding in Namsea    
          from 30,0% to 65,0% through the acquisition of Namsea shares at a     
price of 15,0 cents per share.  Bidvest would like to extend a        
          voluntary offer ("the offer") to all the Namsea shareholders, other   
          than Bidvest, to acquire the remaining Namsea shares not already held 
          by Bidvest ("the offer shares"), being approximately 40,7 million     
shares.                                                               
     2.   The offer                                                             
          a.   Terms of the offer                                               
               The consideration payable will be 15,0 cents per offer share,    
payable in cash ("the offer consideration") amounting to a total 

               consideration of approximately R6,1 million.                     
          b.   Section 321 of the Namibian Companies Act                        
               In the event that acceptances in terms of the offer are received 
in respect of not less than nine-tenths of the offer shares,     

               Bidvest may elect to invoke the provisions of section 321 of the 
               Namibian Companies Act, 61 of 1973 (as amended) ("the Namibian   
               Companies Act") in order to acquire the offer shares in respect  
of which acceptances have not been received, compulsorily.       

          c.   Take-over offer and statement                                    
               Bidvest has lodged with the Namibian Registrar of Companies the  
               offer letter setting out the terms of the offer and other take-  
over information required by section 315 of the Namibian         

               Companies Act.                                                   
          d.   Namsea options                                                   
               Should the provisions of Section 321 of the Namibian Companies   
Act be invoked, acceptable arrangements will be made in so far as

               to ensure such option holders are not prejudiced in any way.     
          e.   Conditions precedent                                             
               The offer is subject to the approval, to the extent legally      
required, by any regulatory authorities.                         

     3.   Timing                                                                
          The offer will be open from Monday, May 22 2006 and the latest date on
          which the offer will close is Friday, September 22 2006.  A further   
announcement regarding the closing date will be made once the offer   
          becomes unconditional.                                                
          An offer document will be distributed to all Namsea shareholders by   
          Monday, May 22 2006 and will contain an opinion from the directors of 
Namsea on the offer.  Shareholders are advised to exercise caution    
          when dealing in their Namsea shares until publication of the offer    
          document.                                                             
          Johannesburg                                                          
May 9 2006                                                            
                    Lead sponsor to      Joint sponsor to                       
Investment bank     Bidvest              Bidvest                                
(Investec Corporate (Investec Bank       (Deutsche                              
Finance)            Limited)             Securities)                            
Transaction law     South African                                               
advisor to Bidvest  sponsor to Namsea    Namibian Sponsor to                    
                                         Namsea                                 
(Werksmans)         (PSG Capital)        (Investment house                      
                                         Namibia)                               
Date: 09/05/2006 04:36:09 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department