TTO - Trustco Group Holdings Limited - Voluntary announcement: Trustco "Land

TTO - Trustco Group Holdings Limited - Voluntary announcement: Trustco "Land    
Bank" yields returns                                                            
TRUSTCO GROUP HOLDINGS LIMITED                                                  
Incorporated in the Republic of Namibia                                         
(Registration number 2003/058)                                                  
NSX share code: TUC                                                             
JSE share code: TTO                                                             
ISIN Number: NA000A0RF067                                                       
("the Company" or "the Group" or "Trustco")                                     
Voluntary Announcement: Trustco "Land Bank" Yields Returns                      
In 2004 the Company acquired 360 hectares (3.6 million square meters) of        
undeveloped land towards the north of Windhoek. Referred to within the Group as 
the "Land Bank", this strategic acquisition has yielded its first significant   
returns through the sales of developed industrial plots. Basic services and bulk
infrastructure are currently being installed.                                   
During the financial year ended 31 March 2011, the Group sold 54 000 square     
meters of the land for NAD68 million at an average of NAD1250 per square meter. 
This represents 3% of approximately 1.8 million square meters of sellable land. 
The "Land Bank" will continue to contribute to Group profits as the Group`s     
target is to sell approximately 10% of the remaining land each year in order to 
fully optimize its value for shareholders.                                      
Cash flows from the sale of land will be utilized to grow the Group`s core      
businesses, including the micro lending loan book of the Group, when required.  
The acute shortage and high demand for vacant developed residential and         
industrial land in the Windhoek basin is expected to sustain this strategy.     
By order of the Board                                                           
J Bazuin                                                                        
Company Secretary                                                               
Windhoek, 7 April 2011                                                          
JSE Sponsor                                                                     
QuestCo Sponsors (Pty) Ltd                                                      
NSX Sponsor                                                                     
IJG Securities (Pty) Ltd                                                        
Date: 07/04/2011 16:00:02 Supplied by www.sharenet.co.za                     
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