Oceana Group Limited - Renewal of cautionary announcement

     Oceana Group Limited - Renewal of cautionary announcement                  
     OCEANA GROUP LIMITED                                                       
     (Incorporated in the Republic of South Africa)                             
(Registration number 1939/001730/06)                                       
     JSE share code: OCE                                                        
     NSX share code: OCG                                                        
     ISIN: ZAE000025284                                                         
("Oceana" or "the Company")                                                
     RENEWAL OF CAUTIONARY ANNOUNCEMENT                                         
     Further to the cautionary announcements dated 20 April 2006, 8 June 2006   
     and 26 June 2006, shareholders are advised that the process of concluding  
the proposed Black Economic Empowerment Transaction ("BEE Transaction") is 
     still in progress.  As indicated in the preliminary announcement dated 26  
     June 2006, a circular containing full details of the BEE Transaction,      
     including a notice of general meeting, will be posted to shareholders in   
due course. Accordingly, shareholders are advised to continue exercising   
     caution when dealing in the Company"s securities until a full announcement 
     is made.                                                                   
     Cape Town                                                                  
7 August 2006                                                              
     Investment bank and sponsor                                                
     Standard Bank                                                              
     (Standard Bank)                                                            
Corporate law adviser to Oceana                                            
     Edward Nathan (Pty) Ltd                                                    
     (Edward Nathan)                                                            
Date: 07/08/2006 12:21:06 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department