HUG - Huge Group Limited - General repurchase of shares

HUG - Huge Group Limited - General repurchase of shares                         
HUGE GROUP 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  
under its general authority to repurchase up to 20% of its issued securities as 
approved by shareholders in general meeting on Friday, 27 November 2009.  On    
Friday, 18 June 2010, the company purchased securities, reaching 3.91% of its   
securities in issue at the date of shareholder approval.                        
The dates of repurchase as set out below:                                       
Dates of repurchase                                                             
01   June 2010                                                                  
11   June 2010                                                                  
15   June 2010                                                                  
18   June 2010                                                                  
The highest and lowest price paid during the period was 80 cents and 75 cents   
respectively, with a total of 4 365 255 shares repurchased at a total value of  
R3 326 104.  The shares were repurchased utilising internal cash flows of the   
group.                                                                          
There are 14 080 573 ordinary shares, representing 12.60% of the issued ordinary
share capital of Huge, remaining as available for repurchase in accordance with 
the general authority referred to above.                                        
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 have been   
complied with.                                                                  
The pro forma effects of the repurchase on earnings per share, headline earnings
per share, net asset value per share and net tangible asset value per share is  
set out below:                                                                  
                                 Audited       Pro forma                        
                                 28 February   After        Percentage          
2010          repurchase   Change              

Basic earnings per share (cents)  8.58          8.95         4.33               
Headline earnings per share       8.79          9.17         4.33               
(cents)                                                                         
Net asset value per share (in     252.35        260.22       3.12               
cents)                                                                          
Net tangible asset value per      20.00         17.49        -12.55             
share (in cents)                                                                
The shares have been repurchased by the company and will be cancelled.          
Johannesburg                                                                    
21 June 2010                                                                    
Designated Advisor                                                              
Arcay Moela Sponsors (Proprietary) Limited                                      
Date: 21/06/2010 09:29:01 Supplied by www.sharenet.co.za                     
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