MMI - MMI Holdings Limited - MMI Holdings Limited withdraws appeal

MMI - MMI Holdings Limited - MMI Holdings Limited withdraws appeal              
MMI Holdings Limited                                                            
Incorporated in the Republic of South Africa                                    
Registration Number: 2000/031756/06                                             
JSE share code: MMI                                                             
NSX share code: MIM                                                             
ISIN: ZAE000149902                                                              
("MMI" or "the company")                                                        
MMI Holdings Limited withdraws appeal                                           
The board of directors of MMI Holdings Limited (MMI) has decided to withdraw the
appeal, lodged at the Competition Appeal Court, regarding employment-related    
conditions imposed by the Competition Tribunal of South Africa on the merger of 
Metropolitan and Momentum.                                                      
According to Nicolaas Kruger, group chief executive, the apparent merits of     
pursuing an appeal were not the only relevant consideration for the group. A    
lengthy appeal process in particular would have been of doubtful benefit. MMI   
believes that it will be more prudent for them to focus on the integration and  
associated restructuring of Metropolitan and Momentum, within the ambit of the  
tribunal`s conditions as clarified, which provide sufficient scope to achieve   
the synergies underpinning the business case for the merger, albeit over a      
slightly longer timeframe.                                                      
Bellville                                                                       
31 January 2011                                                                 
Sponsor                                                                         
Merrill Lynch South Africa (Pty) Ltd                                            
Date: 31/01/2011 09:28:26 Supplied by www.sharenet.co.za                     
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