LAB - Labat Africa Limited - Joint clarification announcement by Labat and

LAB - Labat Africa Limited - Joint clarification announcement by Labat and      
Aurora Empowerment Systems (Pty) Ltd                                            
LABAT AFRICA LIMITED                                                            
Incorporated in the Republic of South Africa                                    
(Registration number 1986/001616/06)                                            
JSE code: LAB                                                                   
ISIN: ZAE000018354                                                              
("Labat" or the "company")                                                      
JOINT CLARIFICATION ANNOUNCEMENT BY LABAT AND AURORA EMPOWERMENT SYSTEMS (PTY)  
LTD ("AURORA")                                                                  
Shareholders are referred to recent press articles which have implied that      
Aurora will list by 30 July 2010.  The directors of Labat, in conjunction with  
the directors of Aurora, would like to clarify the comments made in such        
articles.                                                                       
Shareholders are referred to the firm intention announcement released by Labat  
on 7 April 2010, which set out the terms of the transactions entered into by and
between Labat, Link Private Equity and Investments (Pty) Ltd ("Link") and       
Aurora, which transactions provide for Labat to dispose of its existing business
to Link ("disposal") as well as the transaction which will result in Aurora     
acquiring control of Labat through the acquisition of an initial 45.7%          
shareholding in Labat from Link ("change in control").                          
The draft circular to shareholders in relation to the disposal and the change in
control has been commented on by the JSE Limited ("JSE") and the Securities     
Regulation Panel. Discussions are ongoing relating to certain matters and a     
further announcement will be made as soon as these are finalised.               
There are no agreements in place between Labat and Aurora in relation to the    
acquisition of new assets by Labat from Aurora. There is also currently no      
intention to list Aurora on the JSE.  Aurora will merely become the controlling 
shareholder of Labat once the change in control is unconditional.               
Sandton                                                                         
11 June 2010                                                                    
Corporate adviser and sponsor to Labat                                          
Vunani Corporate Finance                                                        
Corporate adviser to Aurora                                                     
Arcay Moela Sponsors (Pty) Ltd                                                  
Date: 11/06/2010 12:19:01 Supplied by www.sharenet.co.za                     
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