HUG - Huge Group - Acquisition Of Centracell (Proprietary) Limited

HUG - Huge Group - Acquisition Of Centracell (Proprietary) Limited              
HUGE GROUP LIMITED                                                              
(formerly Vanquish Fund Managers Limited)                                       
(Registration number 2006/023587/06)                                            
Share code: HUG     ISIN: ZAE000102042                                          
("Huge" or "the company")                                                       
ACQUISITION OF CENTRACELL (PROPRIETARY) LIMITED ("CENTRACELL")                  
Shareholders are referred to the announcement dated 14 August 2007, which       
detailed the acquisition by Huge of the entire share capital of and             
shareholders` claims on loan account against CentraCell from Julian Arie Morelis
and Alexander John Morelis ("the sale transactions") for a total consideration  
of R80 032 000.                                                                 
The acquisition was subject to Competition Commission approval. This approval   
has now been obtained and the acquisition is now accordingly unconditional.  In 
terms of the agreement, the acquisition is effective from the date on which     
Competition Commission approval was obtained, being 15 February 2008.           
Woodmead                                                                        
19 February 2008                                                                
Corporate Advisors                                                              
Manhattan Equity Corporate Finance (Pty) LImited                                
Designated advisor                                                              
Arcay Moela Sponsors (Pty) Limited                                              
Date: 19/02/2008 13:01:34 Supplied by www.sharenet.co.za                     
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