LBH - Liberty Holdings Limited - Further announcement in relation to the

LBH - Liberty Holdings Limited - Further announcement in relation to the        
acquisition by Liberty of a controlling interest in CFC Insurance Holdings      
Limited                                                                         
LIBERTY HOLDINGS LIMITED                                                        
(Registration number 1968/002095/06)                                            
Share code: LBH ISIN: ZAE000127148                                              
("Liberty" or the "Company")                                                    
FURTHER ANNOUNCEMENT IN RELATION TO THE ACQUISITION BY LIBERTY OF A CONTROLLING 
INTEREST IN CfC INSURANCE HOLDINGS LIMITED ("CfCIH")                            
Shareholders are referred to the announcements published on SENS on 3 December  
2009, 15 December 2009, 30 December 2009, 15 February 2010, 31 March 2010, 14   
April 2010, 29 September 2010 and 13 December 2010 in which shareholders were   
advised that Liberty would acquire control of CfCIH, a leading Kenyan wealth    
company that comprises life, general and health insurance businesses in Kenya   
and Tanzania (the "Transaction").                                               
All of the outstanding conditions precedent to the Transaction have now been    
fulfilled. Liberty will increase its shareholding in CfCIH to 56.82% immediately
following the distribution in specie by CfC Stanbic Holdings Limited of its     
shareholding in CfCIH.  Trading of CfCIH shares on the Nairobi Stock Exchange   
will commence immediately thereafter.  Accordingly the Renunciation Agreement   
has been extended by agreement between the parties to 30 April 2011 to allow the
listing process to be completed.                                                
By order of the Board                                                           
Liberty Holdings Limited                                                        
Braamfontein                                                                    
28 February 2011                                                                
Sponsor                                                                         
Merrill Lynch South Africa (Pty) Ltd                                            
Independent expert                                                              
Fidelis Partners                                                                
Legal advisors in South Africa                                                  
Werksmans                                                                       
Legal advisors in Kenya                                                         
Coulson Harney                                                                  
Date: 28/02/2011 17:05:00 Supplied by www.sharenet.co.za                     
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