MTA - Metair Investments Limited - Announcement to shareholders

MTA - Metair Investments Limited - Announcement to shareholders                 
METAIR INVESTMENTS LIMITED                                                      
Reg No. 1948/031013/06                                                          
(Incorporated in the Republic of South Africa)                                  
Share code : MTA                                                                
ISIN code : ZAE 000090692                                                       
("Metair" or "the Group")                                                       
ANNOUNCEMENT TO SHAREHOLDERS                                                    
Metair wishes to inform shareholders that it had a fire at its First National   
Battery`s ("FNB") Benoni plant on Saturday 30 April 2011.                       
Metair is grateful that there were no injuries or fatalities as a consequence of
the fire.                                                                       
The fire damaged one warehouse of 6 000 square meters that housed some of FNB`s 
battery formation (charging) capacity and unformed battery stock.  Damage to    
fixed property, stock, plant and machinery is estimated at between R80 million  
and R100 million.  FNB is currently formulating this part of the insurance      
claim.  FNB has backup contingency plans in place and expects to be at close to 
90% of pre-fire formation (charging) capacity by early June 2011.  FNB carries  
insurance for loss of profits and is working with the insurance assessors to    
formulate the claim.                                                            
None of FNB`s lead smelting and refinery capacity, which is housed on the same  
property, was damaged.  Production and formation facilities at FNB`s East London
facility are fully operational and are in the process of executing the backup   
contingency plan.                                                               
At the time of the announcement of Metair`s full year result for 2010           
shareholders were advised that we would only know what effect the earthquake and
tsunami in Japan would have on the production volume in South Africa by the end 
of May 2011.  The Group has no further information to report in this regard at  
this time.                                                                      
5 May 2011                                                                      
Johannesburg                                                                    
Sponsor                                                                         
One Capital                                                                     
Date: 05/05/2011 08:00:01 Supplied by www.sharenet.co.za                     
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