GEN - Securities Regulation Panel - Shoprite Holdings Limited - Ruling

GEN - Securities Regulation Panel - Shoprite Holdings Limited - Ruling          
Shoprite Holdings Limited                                                       
(Registration number 1936/007721/06)                                            
Share code: SHP & ISIN: ZAE000012084                                            
("Shoprite" or "the Company")                                                   
SECURITIES REGULATION PANEL ("THE PANEL")                                       
INTERNAL REORGANISATION OF SHOPRITE HOLDINGS LIMITED ("SHOPRITE"), IN SPECIE    
DISTRIBUTION, DELISTING, LIQUIDATION ("THE TRANSACTION") - INDEPENDENCE OF ABSA 
CAPITAL AS EXTERNAL ADVISER TO SHOPRITE                                         
Shoprite ordinary shareholders are referred to earlier announcements regarding  
the transaction and in particular to the announcement dated 28 March 2007 in    
which it was advised that the Panel had received a complaint that as Absa Bank  
Limited and their controlling shareholder Barclays Bank Limited are commercial  
bankers to the Shoprite Group it is not possible for the valuation performed by 
Absa Capital to be considered as an independent valuation of the Shoprite group.
Interested parties are advised that at a hearing before the Executive Committee 
of the Panel which was held on Tuesday, 3 April 2007, the Executive Committee of
the Panel unanimously dismissed the objection that the valuation by ABSA Capital
cannot be considered as an independent valuation of the Shoprite Group.         
Johannesburg                                                                    
4 April 2007                                                                    
Date: 04/04/2007 16:29:15 Supplied by www.sharenet.co.za                     
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