BVT - Bidvest - Statement following the Bidvest Annual General Meeting

BVT - Bidvest - Statement following the Bidvest Annual General Meeting          
The Bidvest Group Limited                                                       
Incorporated in the Republic of South Africa                                    
(Registration number 1946/021180/06)                                            
Share code: BVT                                                                 
ISIN: ZAE000117321                                                              
("Bidvest" or "the Group")                                                      
Statement following the Bidvest Annual General Meeting                          
At the Bidvest Annual General Meeting held on November 17  2008, the Chief      
Executive  of Bidvest, Brian Joffe, informed shareholders of the following      
regarding the Group`s performance for the four month period ended October  31   
2008:                                                                           
-    Most divisions within the Group, other than Bid Auto, the Group`s          
    automotive division, and 3663 First for Foodservice ("3663"), the Group`s   
    operations in the United Kingdom, have  for the period to October achieved  
positive double digit trading profit growth;                                
-    Bid Auto and, to a lesser extent 3663, have achieved negative growth for   
    the same period. Bid Auto has been negatively affected by, inter alia,      
    tight credit markets, poor retail sales and difficult conditions in the     
automotive industry in general. The second hand car market has, however,    
    recently shown signs of improvement, which should impact positively on Bid  
    Auto in the period ahead. 3663 has been negatively affected by the global   
    financial crisis and its impact on demand. 3663`s results for October 2008  
were relatively better than the period July through September 2008;         
-    Based on our current assessment of the economy and provided we achieve     
    reasonable results in November and December, overall the Group should       
    achieve modest positive growth for the six month period ending December 31  
2008;                                                                       
-    Bidvest`s management continue to be committed to achieving solid results by
    driving the Group`s trading performance with particular focus on, inter     
    alia, limiting the funds employed within the Group.                         
This statement has not been reviewed or reported on by Bidvest`s external       
auditors.                                                                       
By order of the board                                                           
November 17  2008                                                               
Sponsors:                                                                       
Investec Bank Limited                                                           
Date: 17/11/2008 13:47:08 Supplied by www.sharenet.co.za                     
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