SNV - Santova-Issue of shares and sale of Supply Chain Insurance Brokers (Pty)

SNV - Santova-Issue of shares and sale of Supply Chain Insurance Brokers (Pty)  
Ltd                                                                             
SANTOVA LOGISTICS LIMITED                                                       
(Registration Number 1998/018118/06)                                            
(Formerly Spectrum Shipping Limited)                                            
Share Code:  SNV & ISIN:  ZAE000090650                                          
("Santova" or "the company")                                                    
Issue of Shares and Sale of Supply Chain Insurance Brokers (Pty) Ltd            
Issue of Shares                                                                 
Shareholders are referred to the announcements dated 30 June 2006 and 13        
September 2006.                                                                 
In the former announcement Santova announced the acquisition of Impson Freight  
(Pty) Ltd for the issue of 428 400 000 shares in total, payable in tranches or  
as and when a profit warranty of R10,8 million before tax is achieved.          
The board is pleased to announce that the R10,8 profit before tax warranty was  
achieved and Santova has issued and listed the balance of the shares, being 210 
000 000 shares.                                                                 
In the second announcement referred to above relating to the acquisition of     
Leading Edge Insurance Brokers (Pty) Ltd, the board is pleased to announce that 
the first year warranty has been achieved and the board has issued the requisite
4 286 490 shares.                                                               
Supply Chain Insurance Brokers (Pty) Ltd                                        
The board is authorised to announce that in addition to Leading Edge Insurance  
Brokers (Pty) Ltd the company had an additional inactive insurance license in   
its subsidiary, Supply Chain Insurance Brokers (Pty) Ltd, which it did not need 
once it had acquired Leading Edge Insurance Brokers (Pty) Ltd. This company has 
been sold to Crescendo Management Services (Pty) Ltd, a company related to Mr.  
Moses Tembe, a director of Santova, for R320 000,00 payable in cash.            
Although the above transaction is not a related party transaction, as classified
by the JSE Listings requirements as it is less than 10% of all the requisite    
ratios, the following additional information is disclosed:                      
*    The effective date will be 28 February 2007;                               
*    The approval, if applicable, of all relevant statutory bodies including but
    not limited to JSE, SRP and FSB will be sought; and                         
*    The subsidiary did not trade and had no assets or liabilities and therefore
the sale has no financial effect on the financial position of Santova       
    either before or after the transaction;                                     
June 26, 2007                                                                   
Designated and Corporate Advisor                                                
River Group                                                                     
Date: 26/06/2007 15:10:00 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.