FBR - Famous Brands Limited - Famous Brands` festive season cheer with

FBR - Famous Brands Limited - Famous Brands` festive season cheer with          
acquisition of O`Hagan`s Irish Pub and Grill                                    
Famous Brands Limited                                                           
(Incorporated in the Republic of South Africa)                                  
Registration number: 1969/004875/06                                             
Share Code: FBR                                                                 
ISIN: ZAE000053328                                                              
("Famous Brands")                                                               
FAMOUS BRANDS` FESTIVE SEASON CHEER WITH ACQUISITION OF O`HAGAN`S IRISH PUB     
AND GRILL                                                                       
Famous Brands has acquired the franchise agreements, trademarks and             
intellectual property of the O`Hagan`s Irish Pub and Grill brand from           
O`Hagan`s Franchising (Pty) Ltd for an undisclosed sum.  The purchase           
consideration is less than 0,5% of Famous Brands` market capitalisation.  The   
acquisition will be funded through existing cash reserves, and will be          
earnings enhancing.                                                             
Assuming successful conclusion of the due diligence exercise, the effective     
date of the transaction is 01 December 2010.                                    
Currently the O`Hagan`s franchised network consists of 26 outlets, 22 in        
South Africa, one in Botswana, one in Zambia and two in Zimbabwe.               
Famous Brands CEO, Kevin Hedderwick says, "Having recently entered the Pub      
and Restaurant category via our acquisition of the KEG and McGinty`s brands,    
the acquisition of O`Hagan`s provides us with an opportunity to literally       
double the size of our existing network in this industry, at a compelling       
price."                                                                         
"To open another 26 franchised pubs would conservatively take the Group about   
five years, whereas with this prudent investment that is immediately            
achieved."                                                                      
He notes, "This transaction aligns itself with our recently expanded leisure    
landscape but also cements our deliberate strategy to play a leading role       
within those categories in which we compete.  This acquisition demonstrates     
our intent to be a serious player in the Pub and Restaurant market."            
Hedderwick elaborates on the rationale for the acquisition, "We have already    
put in place a Pub and Restaurant Division specifically designed to expand      
its capacity as opportunities arise, so the cost of take-on of this             
additional business to the division is minimal.  Given existing surplus         
capacity, we will increase our Pub and Restaurant division`s turnover by 50%,   
but nearly double the operating profit."*                                       
Also key to this acquisition are the synergies and benefits to be extracted     
from integrating O`Hagan`s into the Group`s comprehensive business model.       
The business of O`Hagan`s Franchising was acquired in 1999 by entrepreneur      
John Weir-Smith.                                                                
Weir-Smith says, "Famous Brands is in a position to take the O`Hagan`s brand    
to the next level.  They will rejuvenate these businesses and give them the     
ability to grow and improve their profitability."                               
Hedderwick comments, "Our acquisition of the O`Hagan`s brand further endorses   
our confidence in the Pub and Restaurant category`s potential and our ability   
to shape the future of this business in South Africa.  The Group will be        
launching a new brand identity and positioning for KEG and McGinty`s in March   
2011.  Similarly, the positioning of the O`Hagan`s brand will be robustly       
unpacked and interrogated early in the new year.  We are not only confident     
that this acquisition will have an important benefit on revenue for Famous      
Brands, but is also part of our longer term ambition for the category per se,   
which plans will be announced in due course," he says.                          
Hedderwick concludes, "Our strong balance sheet, proven brand stewardship       
model and depth of management expertise augurs well for the rapid integration   
of O`Hagan`s into the Famous Brands business."                                  
*The forecast information contained in the announcement has not been reviewed   
or reported on by Famous Brands` auditors.                                      
Notes to editors:                                                               
The Group`s brand portfolio includes Steers (524), Wimpy including UK (642),    
Debonairs Pizza (315), FishAways (112), Mugg & Bean (108), tashas (5), House    
of Coffees (19), Brazilian/Brazilian Cafe (48), Blacksteer (12), Giramundo      
(4), KEG (27), McGinty`s (5) and Vovo Telo (3).  The Group also manufactures    
and supplies its franchisees and the retail trade with a wide range of meat,    
sauce, bakery, ice cream, fruit juice and mineral water products.               
For further information:                                                        
Kevin Hedderwick                   Del-Maree English                            
Chief Executive Officer            Investor Communications                      
Famous Brands                      Mobile:  083 395 8608                        
Telephone:  011 651 5812                                                        
Famous Brands` website:  www.famousbrands.co.za                                 
Midrand                                                                         
30 November 2010                                                                
Sponsor                                                                         
Standard Bank                                                                   
Date: 30/11/2010 07:30:01 Supplied by www.sharenet.co.za                     
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