HUG - Huge Group Limited - General Repurchase Of Shares

HUG - Huge Group Limited - General Repurchase Of Shares                         
HUGE GROUP LIMITED                                                              
(formerly Vanquish Fund Managers Limited)                                       
(Registration number 2006/023587/06)                                            
Share code: HUG & ISIN: ZAE000102042                                            
("Huge" or "the Group" or "the company")                                        
GENERAL REPURCHASE OF SHARES                                                    
Shareholders are advised that the company has been repurchasing its securities  
over the past 5 months under its general authority to repurchase 20% of its     
issued securities as approved by shareholders in general meeting on Monday, 22  
September 2008.  On Friday, 02 January 2009, the company purchased securities,  
reaching an initial 3.883% of its securities in issue at date of shareholder    
approval.                                                                       
The dates of repurchase as set out below:                                       
Date of repurchase                                                              
28 October 2008                                                                 
30 October 2008                                                                 
5 November 2008                                                                 
11 November 2008                                                                
4 December 2008                                                                 
5 December 2008                                                                 
8 December 2008                                                                 
11 December 2008                                                                
12 December 2008                                                                
2 January 2009                                                                  
The highest and lowest price paid during the period was 300 cents and 120 cents 
respectively, with a total of 4 340 046 shares repurchased at a total value of  
R5 568 648.83.  The shares were repurchased utilising internal cash flows of the
group.                                                                          
The remaining shares available for repurchase in accordance with the general    
authority is 18 012 359 shares or 16.117%.                                      
The directors of Huge, after considering the effect of the above repurchase, are
of the view that the company and the group:                                     
-    will be able, in the ordinary course of business, to pays its debts;       
-    that the assets will be in excess of the liabilities; and                  
-    the share capital and reserves will be adequate for ordinary business      
    purposes; and                                                               
-    the working capital will be adequate for ordinary business purposes,       
    for a period of twelve months after the date of this announcement.          
The requirements of paragraph 5.72 of the JSE Listings Requirements has been    
complied with.                                                                  
The pro forma effects of the repurchase on earnings per share, headline earnings
per share, net asset value per shares and net tangible asset value per share is 
set out below:                                                                  
                      Unaudited   Pro forma -  % change                         
                      Interim     After                                         
                      31 August   repurchase                                    
2008                                                      

Earnings per share     26.18       27.24        4.1%                            
Headline earnings per  26.18       27.24        4.1%                            
share                                                                           
Net asset value per    261.15      271.70       4.1%                            
share                                                                           
Net tangible asset     68.15       70.90        4.1%                            
value per share                                                                 
The shares have been repurchased as treasury shares by a subsidiary of Huge and 
will not be cancelled.                                                          
Johannesburg                                                                    
05 January 2009                                                                 
Designated Advisor                                                              
Arcay Moela Sponsors (Proprietary) Limited                                      
Date: 06/01/2009 11:40:24 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.