AET - Alert Steel Holdings Limited - Update to granting of options to turnaround

AET - Alert Steel Holdings Limited - Update to granting of options to turnaround
parties and the executive managers and withdrawal of cautionary announcement    
ALERT STEEL HOLDINGS LIMITED                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 2003/005144/06)                                            
JSE code: AET                                                                   
ISIN: ZAE000092847                                                              
("Alert" or "the company")                                                      
UPDATE TO GRANTING OF OPTIONS TO TURNAROUND PARTIES AND THE EXECUTIVE MANAGERS  
AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT                                       
1    INTRODUCTION                                                               
Shareholders are referred to the announcement, dated             18 August  
    2011 relating to the granting of options to turnaround parties and the      
    executive managers and withdrawal of cautionary announcement and are        
    advised that the table as set out in paragraph 4 of this announcement       
should be replaced with the table as per paragraph 2 below due to the       
    erroneously omitting of Mr Donovan Fourie* from the table.                  
2    THE EXECUTIVE OPTION GRANT                                                 
    The maximum number of Alert shares that may be subscribed for by the        
Executive Managers in terms of the Executive Options are as follows:        
Executive managers           Designation                   Number of            
                                                          Executive Options     
                                                          granted               


Wynand Schalekamp            Deputy Chairman               39 393 939           
Dawie de Beer                Managing Executive Business   23 636 364           
                            Development                                         
Theresia Engelbrecht         Managing Executive Branch     20 681 818           
                            Operations                                          
Edwin Bohmer                 Chief Information Officer     14 772 727           
Neil Cresswell               Chief Financial Officer/      26 590 909           
Financial Director                                  

Charlotte du Toit            Managing Executive Corporate  8 863 636            
                            and Hole Sale                                       
Donovan Fourie*              Managing Executive Hub        14 772 727           
Operations                                          

Barend Barnard               Marketing Executive           8 863 636            
Total                                                      157 575 756          
Pretoria                                                                        
19 August 2011                                                                  
Designated Adviser                                                              
Vunani Corporate Finance                                                        
Date: 19/08/2011 09:39:01 Supplied by www.sharenet.co.za                     
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