PNG - Pinnacle Point Group Limited - Clarification announcement in relation to

PNG - Pinnacle Point Group Limited - Clarification announcement in relation to  
an emphasis of matter                                                           
PINNACLE POINT GROUP LIMITED                                                    
(Registration Number: 2000/000059/06)                                           
Share code: PNG ISIN code:ZAE000127122                                          
("Pinnacle Point" or "the Company")                                             
CLARIFICATION ANNOUNCEMENT IN RELATION TO AN EMPHASIS OF MATTER                 
Shareholders are referred to the reviewed results announcement for the year     
ended 28 February 2011 dated 30 June 2011, which advised that the reviewed      
results were qualified by the auditors and details of which were set out in the 
said announcement.  The Board of Directors advise that the qualification        
referred to is actually an Emphasis of Matter opinion, the text of which opinion
is set out below:                                                               
"Emphasis of matter                                                             
Without qualifying our opinion we attention to the information set out under the
heading "Going Concern" in the attached condensed consolidated results, which   
indicates the existence of material uncertainty which may cast significant doubt
on the company`s ability to continue as a going concern.                        
Qualification                                                                   
Management has informed us of various matters which indicate the existence of   
material uncertainties relating to potential results of negotiations to obtain  
finance in order to complete current developments and thereby realise its       
inventory in the ordinary course of business.  These matters are discussed at   
length under the heading "Going Concern" in the attached condensed consolidated 
results for the year ended 28 February 2011.  The failure to conclude these     
negotiations could impact on the valuation at which inventory is carried on the 
statement of financial position."                                               
Johannesburg                                                                    
05 July 2011                                                                    
Designated Advisor                                                              
Arcay Moela Sponsors (Proprietary) Limited                                      
Date: 05/07/2011 09:19:24 Supplied by www.sharenet.co.za                     
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