BIK - Brikor Limited - Proposed sales of assets and further cautionary

BIK - Brikor Limited - Proposed sales of assets and further cautionary          
announcement                                                                    
Brikor Limited                                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/013247/06)                                            
(JSE code: BIK     ISIN: ZAE000101945)                                          
("Brikor" or "the company")                                                     
PROPOSED SALES OF ASSETS AND FURTHER CAUTIONARY ANNOUNCEMENT                    
Shareholders are advised that Brikor has entered into the following heads of    
agreement:                                                                      
1    with The Corne Kruger Family Trust, for the sale of the operations in      
Donkerhoek together with the immovable property as a going concern for an   
    amount of R40,6 million;                                                    
2    with the shareholders, B S Nqubane, S T Nqubane, B C Nzuza and S C Nzuza,  
    of a new company to be registered for the sale of the operations of Stanger 
Brick and Tile (incorporating Zululand Quarries, Tugela and Ballito Ready   
    Mix Operations, Natal Sands Supplies, Stanbrik Roof Tiles Operations and    
    Stanger Brick and Tile) as a going concern for an amount of R50 million.    
The above sales of assets are in line with Brikor`s strategy to strengthen the  
group`s cash resources as well as improving its current debt burden.            
The proposals are subject to various conditions precedent which are customary in
transactions of this nature, inter alia shareholders` and other regulatory      
approvals. Once the parties have entered into the final agreements, a detailed  
announcement will be made containing the full financial effects.                
Shareholders are advised to exercise caution in dealing with their Brikor shares
until such further announcement is made.                                        
11 February 2011                                                                
Nigel                                                                           
Designated Adviser                                                              
Exchange Sponsors                                                               
Date: 11/02/2011 13:03:01 Supplied by www.sharenet.co.za                     
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