Labat Africa Limited - Audit Conducted In Terms Of International

Labat Africa Limited - Audit Conducted In Terms Of International                
                        Standards Of Auditing                                   
Labat Africa Limited                                                            
Incorporated in the Republic of South Africa                                    
(Registration Number 1986/001616/06)                                            
Share code: LAB & ISIN: ZAE000018354                                            
("Labat")                                                                       
AUDIT CONDUCTED IN TERMS OF INTERNATIONAL STANDARDS OF AUDITING                 
Shareholders are advised that the audit of Labat was conducted in accordance    
with International Standards on Auditing, and that the financial results for the
year ended 28 February 2006 are in accordance with International Financial      
Reporting Standards.                                                            
11 September 2006                                                               
Sponsor                                                                         
Merchant Sponsors (Proprietary) Limited                                         
Date: 11/09/2006 05:04:06 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department