PNG - Pinnacle Point Group Limited - Clarification announcement

PNG - Pinnacle Point Group Limited - Clarification announcement                 
PINNACLE POINT GROUP LIMITED                                                    
(Registration Number: 2000/000059/06)                                           
ISIN code: ZAE000127122        Share code: PNG                                  
("Pinnacle Point")                                                              
CLARIFICATION ANNOUNCEMENT                                                      
Shareholders are advised that the hearing by the Western Cape High Court of     
the applications brought by Investec Bank Limited ("Investec") for the          
liquidation of certain Pinnacle Point subsidiary companies, Festival Bay        
Trading (Proprietary) Limited, Pinnacle Point Resorts (Proprietary) Limited,    
Clarens Golf and Trout Estate (Proprietary) Limited and Pinnacle Point          
Investments (Proprietary) Limited have, by agreement with Investec, been        
postponed for hearing until 1 June 2011. These applications have all been       
opposed by the subsidiaries concerned.                                          
Shareholders will be informed of any further developments in due course.        
JOHANNESBURG                                                                    
23 February 2011                                                                
Designated Advisor                                                              
Arcay Moela Sponsors (Proprietary) Limited                                      
Date: 23/02/2011 17:40:00 Supplied by www.sharenet.co.za                     
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